Input tax credit apportionment: revised project-level E/F calculation requires final adjustment and prescribed reversal or claim procedures. Amendments require project-level apportionment and finalisation of input tax credit for construction services under Schedule II, paragraph 5(b), using specified E and F carpet-area formulas to allocate common credit between taxable and exempt supplies; final calculation is due before the September return following the year of project completion/first occupation, with excesses reversed in FORM GSTR-3B or FORM DRC-03 (with interest) or claimed as credit, and separate calculations for commercial portions and rules for multi-project use and transitional cases.
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Input tax credit apportionment: revised project-level E/F calculation requires final adjustment and prescribed reversal or claim procedures.
Amendments require project-level apportionment and finalisation of input tax credit for construction services under Schedule II, paragraph 5(b), using specified E and F carpet-area formulas to allocate common credit between taxable and exempt supplies; final calculation is due before the September return following the year of project completion/first occupation, with excesses reversed in FORM GSTR-3B or FORM DRC-03 (with interest) or claimed as credit, and separate calculations for commercial portions and rules for multi-project use and transitional cases.
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