Input tax credit apportionment for real estate projects clarified, with project-level finalisation, reversals and standardised reporting. Amendments require project-level computation and finalisation of input tax credit apportionment for construction services under Schedule II clause (b), defining E/F project factors, separate calculation of common credit components (C3, D1, D2, Te, Tc) for residential and commercial portions, assignment of ITC where inputs or capital goods are used across projects, mandatory reversals or credit claims via FORM GSTR-3B or FORM GST DRC-03, interest on reversals beyond the financial year of completion, and standardised definitions and forms for assessment and demand processes.
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Input tax credit apportionment for real estate projects clarified, with project-level finalisation, reversals and standardised reporting.
Amendments require project-level computation and finalisation of input tax credit apportionment for construction services under Schedule II clause (b), defining E/F project factors, separate calculation of common credit components (C3, D1, D2, Te, Tc) for residential and commercial portions, assignment of ITC where inputs or capital goods are used across projects, mandatory reversals or credit claims via FORM GSTR-3B or FORM GST DRC-03, interest on reversals beyond the financial year of completion, and standardised definitions and forms for assessment and demand processes.
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