https://www.taxtmi.com/forum/issue?id=121146 For an NBFC, the reversed or lapsed portion of input tax credit attributable to capital goods may be included for depreciation purposes under the Income-tax Act. The stated view is that prior availment of eligible credit followed by its monthly reversal under Rule 38 does not preclude depreciation on the reversed portion, subject to the restriction relating to depreciation and input tax credit. en-us Mon, 28 Sep 2026 12:33:00 +0530 Mon, 28 Sep 2026 13:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121146 For an NBFC, the reversed or lapsed portion of input tax credit attributable to capital goods may be included for depreciation purposes under the Income-tax Act. The stated view is that prior availment of eligible credit followed by its monthly reversal under Rule 38 does not preclude depreciation on the reversed portion, subject to the restriction relating to depreciation and input tax credit. Discussion-Forum GST Mon, 28 Sep 2026 12:33:00 +0530 https://www.taxtmi.com/forum/issue?id=121146