Input tax credit: landowner-promoters permitted to utilise developer-charged credit for apartment tax and new ship repair entry added. The notification adds a new clause permitting a landowner-promoter to utilise input tax credit charged by the developer-promoter for payment of tax on apartments supplied by the landowner-promoter in the same project, and inserts a new entry covering maintenance, repair and overhaul services for ships and other vessels and related components; these amendments take effect from the 2nd day of June, 2021.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit: landowner-promoters permitted to utilise developer-charged credit for apartment tax and new ship repair entry added.
The notification adds a new clause permitting a landowner-promoter to utilise input tax credit charged by the developer-promoter for payment of tax on apartments supplied by the landowner-promoter in the same project, and inserts a new entry covering maintenance, repair and overhaul services for ships and other vessels and related components; these amendments take effect from the 2nd day of June, 2021.
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