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of <h1>India Amends IGST Tax Rule: No ITC Refund for Construction Supplies Including Land Value Unless Payment Made Post-Completion.</h1> The Government of India has issued Notification No. 18/2023, amending Notification No. 12/2017-Integrated Tax (Rate), concerning the refund of unutilized Input Tax Credit (ITC) under the Integrated Goods and Services Tax (IGST) Act. Effective from October 20, 2023, the amendment specifies that supplies related to the construction of complexes, buildings, or civil structures intended for sale, where the service charge includes land value, are not eligible for ITC refund. This exclusion applies unless the entire payment is received after the completion certificate is issued or after the first occupation, whichever occurs earlier.
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