GST Input Tax Credit on capital goods: How to claim, meaning, depreciation; all you need to know

Input tax credit means credit of Input tax i.e. tax levied on input goods, input services or both. Any goods (including capital goods) and any input services used or intended to be used by a provider of goods or services of both in the course of or furtherance of business is eligible for input tax credit. Section 2(62) of Central Goods and Services Tax Act (CGST Act) defines Input tax in relation…