Input tax credit allocation by area clarified for construction services; taxable, zero-rated and exempt portions determined by area. The Order clarifies that for services under clause (b) of paragraph 5 of Schedule II relating to construction, the input tax credit attributable to taxable supplies, including zero-rated supplies, and to exempt supplies shall be determined by reference to the area of the complex, building or civil structure (or part thereof) that is taxable and the area that is exempt.
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Input tax credit allocation by area clarified for construction services; taxable, zero-rated and exempt portions determined by area.
The Order clarifies that for services under clause (b) of paragraph 5 of Schedule II relating to construction, the input tax credit attributable to taxable supplies, including zero-rated supplies, and to exempt supplies shall be determined by reference to the area of the complex, building or civil structure (or part thereof) that is taxable and the area that is exempt.
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