Timing of tax liability clarified: liability falls in the tax period containing completion certificate issuance or first occupation. The amendment fixes accrual of tax liability for immovable property projects in a tax period not later than the tax period in which the date of issuance of the completion certificate for the project, where required, by the competent authority, or the date of its first occupation, whichever is earlier, falls, and substitutes the phrase 'in whose case the liability to' with ',who shall', thereby clarifying the subject and temporal limit for liability.
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Provisions expressly mentioned in the judgment/order text.
Timing of tax liability clarified: liability falls in the tax period containing completion certificate issuance or first occupation.
The amendment fixes accrual of tax liability for immovable property projects in a tax period not later than the tax period in which the date of issuance of the completion certificate for the project, where required, by the competent authority, or the date of its first occupation, whichever is earlier, falls, and substitutes the phrase "in whose case the liability to" with ",who shall", thereby clarifying the subject and temporal limit for liability.
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