Timing of tax liability clarified: liability tied to the tax period containing completion certificate issuance or first occupation. The notification amends the timing of tax liability wording to require persons 'who shall' be liable, specifying that liability arises 'in the 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 date of its first occupation, whichever is earlier, falls.' The amendment is effective from the 2nd day of June, 2021.
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Provisions expressly mentioned in the judgment/order text.
Timing of tax liability clarified: liability tied to the tax period containing completion certificate issuance or first occupation.
The notification amends the timing of tax liability wording to require persons "who shall" be liable, specifying that liability arises "in the 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 date of its first occupation, whichever is earlier, falls." The amendment is effective from the 2nd day of June, 2021.
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