https://www.taxtmi.com/article/detailed?id=16186 Banking companies and financial institutions opting for the special mechanism under Section 17(4) of the CGST Act may avail 50% of eligible input tax credit, with the balance lapsing. The bar under Section 16(3) applies only to the specific tax component on which depreciation has actually been claimed, and not to the entire tax component where no double benefit exists. Accordingly, depreciation on the unavailed portion does not disentitle the assessee from claiming input tax credit on the remaining portion. en-us Sat, 11 Apr 2026 08:55:58 +0530 Sat, 11 Apr 2026 08:55:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16186 Banking companies and financial institutions opting for the special mechanism under Section 17(4) of the CGST Act may avail 50% of eligible input tax credit, with the balance lapsing. The bar under Section 16(3) applies only to the specific tax component on which depreciation has actually been claimed, and not to the entire tax component where no double benefit exists. Accordingly, depreciation on the unavailed portion does not disentitle the assessee from claiming input tax credit on the remaining portion. Articles Goods and Services Tax - GST Sat, 11 Apr 2026 08:55:58 +0530 https://www.taxtmi.com/article/detailed?id=16186