Recipient not eligible for ITC of GST paid on transfer of rights of leasehold land

Recipient not eligible for ITC of GST paid on transfer of rights of leasehold land https://www.taxtmi.com/article/detailed?id=11921 Transferee acquiring leasehold rights to set up or expand a manufacturing facility is not eligible to claim Input Tax Credit on GST paid for services relating to the lease, because the statutory exclusion for goods or services received for construction of an immovable property (other than plant and machinery) precludes ITC. The AAR applied prior advance-ruling precedents and the applicant's stated intent to develop industrial land to deny ITC on GST charged in respect of transferred lease rights. en-us Fri, 06 Oct 2023 11:19:28 +0530 Fri, 06 Oct 2023 11:19:28 +0530 TaxTMI RSS Generator Recipient not eligible for ITC of GST paid on transfer of rights of leasehold land https://www.taxtmi.com/article/detailed?id=11921 Transferee acquiring leasehold rights to set up or expand a manufacturing facility is not eligible to claim Input Tax Credit on GST paid for services relating to the lease, because the statutory exclusion for goods or services received for construction of an immovable property (other than plant and machinery) precludes ITC. The AAR applied prior advance-ruling precedents and the applicant's stated intent to develop industrial land to deny ITC on GST charged in respect of transferred lease rights. Articles Goods and Services Tax - GST Fri, 06 Oct 2023 11:19:28 +0530 https://www.taxtmi.com/article/detailed?id=11921