Eligible for Input Tax Credit on Machinery Purchase; Must Comply with Sections 16 and 17(5) of Tax Regulations.

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....Input tax credit on the purchase of machinery - Since the applicant is using the goods in equipments, as capital goods, in the course or furtherance of his business, he is eligible to take the credit of input tax charged on any supply of such goods. - ITC can be availed subject to section 16 and 17(5)....