A manufacturer takes deduction of depreciation on the GST component of the cost of capital goods as per Income- tax Act, 1961. The manufacturer
A. Can avail only 25% of the said tax component as ITC
B. Can avail only 50% of the said tax component as ITC
C. Can avail only 100% of the said tax component as ITC
D. Cannot avail ITC on the said tax component
Answer:D
A manufacturer takes deduction of depreciation on the GST component of the cost of capital goods as per Income- tax Act, 1961. The manufacturer
A. Can avail only 25% of the said tax component as ITC B. Can avail only 50% of the said tax component as ITC C. Can avail only 100% of the said tax component as ITC D. Cannot avail ITC on the said tax component