Input tax credit apportionment: project-level finalisation requires reversals or claims using prescribed forms within set timelines. The amendment defines value of assets as entire business assets and prescribes project level mechanics for ITC apportionment in construction services: compute E/F using carpet areas, finalise ITC on completion or first occupation, reverse excess provisional credits or claim shortfalls via FORM GSTR 3B or FORM GST DRC 03 within prescribed timelines, assign shared inputs on a reasonable basis, and follow special rules for commercial portions and transitioned RREPs. It also prescribes the order of utilisation of ITC and substitutes multiple assessment and demand forms with mandated electronic summaries.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit apportionment: project-level finalisation requires reversals or claims using prescribed forms within set timelines.
The amendment defines value of assets as entire business assets and prescribes project level mechanics for ITC apportionment in construction services: compute E/F using carpet areas, finalise ITC on completion or first occupation, reverse excess provisional credits or claim shortfalls via FORM GSTR 3B or FORM GST DRC 03 within prescribed timelines, assign shared inputs on a reasonable basis, and follow special rules for commercial portions and transitioned RREPs. It also prescribes the order of utilisation of ITC and substitutes multiple assessment and demand forms with mandated electronic summaries.
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