Input tax credit: landowner promoter may utilise developer promoter's tax credit for apartments; ship maintenance services added. The notification amends the State Tax (Rate) schedule to permit the landowner promoter to utilise 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 or overhaul services for ships, vessels and their components, with consequent substitution of cross references. The amendment takes effect from 2 June 2021.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit: landowner promoter may utilise developer promoter's tax credit for apartments; ship maintenance services added.
The notification amends the State Tax (Rate) schedule to permit the landowner promoter to utilise 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 or overhaul services for ships, vessels and their components, with consequent substitution of cross references. The amendment takes effect from 2 June 2021.
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