Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
AAR held that the applicant is not entitled to claim input tax credit of GST charged on lease rental for land allotted for construction of an industrial unit, as such credit is specifically barred by section 17(5)(d) of the CGST Act. The bar applies irrespective of timing (pre-construction or post-construction), to any vacant portion of the leased land reserved for the project, and extends to amounts attributable to reconstruction, renovation, addition, alteration or repairs, since "construction" encompasses those activities. The Authority rejected attempts to limit section 17(5)(d) by reference to nexus or to section 17(5)(c), noting both clauses operate independently.
AAR held that the applicant is not entitled to claim input tax credit of GST charged on lease rental for land allotted for construction of an industrial unit, as such credit is specifically barred by section 17(5)(d) of the CGST Act. The bar applies irrespective of timing (pre-construction or post-construction), to any vacant portion of the leased land reserved for the project, and extends to amounts attributable to reconstruction, renovation, addition, alteration or repairs, since "construction" encompasses those activities. The Authority rejected attempts to limit section 17(5)(d) by reference to nexus or to section 17(5)(c), noting both clauses operate independently.
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