https://www.taxtmi.com/highlights?id=65235 Input Tax Credit (ITC) - upfront lease premium - The upfront premium made is the lease rentals as per the allotment order/letter of Chennai Port Trusts and it is nothing but lease rentals paid for the services of 'Renting of Immovable property' for business purpose - the upfront premium paid is not related to any construction activity of such covered space but against the rental value for the period of rent calculated for the period of lease and collected upfront. Thus, provisions of Section 17(5) (d) is not applicable to the instant case. - AAR en-us Tue, 23 Aug 2022 14:58:34 +0530 Tue, 23 Aug 2022 14:58:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65235 Input Tax Credit (ITC) - upfront lease premium - The upfront premium made is the lease rentals as per the allotment order/letter of Chennai Port Trusts and it is nothing but lease rentals paid for the services of 'Renting of Immovable property' for business purpose - the upfront premium paid is not related to any construction activity of such covered space but against the rental value for the period of rent calculated for the period of lease and collected upfront. Thus, provisions of Section 17(5) (d) is not applicable to the instant case. - AAR Highlights GST Tue, 23 Aug 2022 14:58:34 +0530 https://www.taxtmi.com/highlights?id=65235