Tax liability timing clarified: GST liability arises in the tax period containing the completion certificate issuance or first occupation. The amendment replaces the identification of the taxable person to read ', who shall' and prescribes that tax liability must be recognised in a tax period not later than the tax period in which the 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; the amendment is effective from 2nd June, 2021.
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.
Tax liability timing clarified: GST liability arises in the tax period containing the completion certificate issuance or first occupation.
The amendment replaces the identification of the taxable person to read ", who shall" and prescribes that tax liability must be recognised in a tax period not later than the tax period in which the 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; the amendment is effective from 2nd June, 2021.
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