Where ITC has been availed, higher of the following would be payable:
(i) amount equal to the input tax credit taken on the said capital goods or plant and machinery reduced by the percentage points as may be specified (i.e 5% per Qtr)
(ii) Tax on the transaction value of such capital goods or Plant and Machinery determined under section 15 of CGST Act.
However, in case of bricks, moulds and dies, jigs and fixtures are supplied as scrap, the taxable person may pay tax on the transaction value of such goods determined under section 15 of CGST Act.
