Section 11(6) in The Himachal Pradesh Value Added Tax Act, 2005
(6)The input tax credit on capital goods shall be limited to plant and machinery directly connected with the manufacturing or processing of the finished goods and input tax credit as admissible under this section shall commence from the date of commencement of commercial production and shall be adjusted against tax payable on turnover of sales over a period of three years:Provided that in case of closure of business before the period of three years, no further input tax credit shall be allowed and input tax carried forward, if any, shall be forfeited.
