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of <h1>India Amends UTGST Notification: No ITC Refund on Construction Supplies Including Land Value Unless Post-Completion Payment.</h1> The Government of India has amended Notification No. 15/2017-Union Territory Tax (Rate), originally issued on June 28, 2017, under the Union Territory Goods and Services Tax (UTGST) Act. The amendment specifies that supplies related to the construction of a complex, building, or part thereof, intended for sale to a buyer, are not eligible for a refund of unutilized input tax credit (ITC) if the consideration includes the value of land. This applies unless the entire payment is received after the completion certificate is issued or after the first occupation. The amendment takes effect on October 20, 2023.
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