https://www.taxtmi.com/forum/issue?id=121096 Where a power plant previously used for taxable manufacturing and exempt electricity sales becomes exclusively used for exempt electricity generation, ITC attributable to its remaining 60-month useful-life period should be reversed. The residual reversal should account for ITC reversals already made while the plant was used commonly for taxable and exempt supplies. A capital-goods-wise 60-month reconciliation is suggested. Full reversal of the original ITC is not suggested solely because of the subsequent change in use, subject to verification of applicable amendments, notifications and judicial precedent. en-us Mon, 31 Aug 2026 11:59:01 +0530 Sun, 06 Sep 2026 16:30:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121096 Where a power plant previously used for taxable manufacturing and exempt electricity sales becomes exclusively used for exempt electricity generation, ITC attributable to its remaining 60-month useful-life period should be reversed. The residual reversal should account for ITC reversals already made while the plant was used commonly for taxable and exempt supplies. A capital-goods-wise 60-month reconciliation is suggested. Full reversal of the original ITC is not suggested solely because of the subsequent change in use, subject to verification of applicable amendments, notifications and judicial precedent. Discussion-Forum GST Mon, 31 Aug 2026 11:59:01 +0530 https://www.taxtmi.com/forum/issue?id=121096