Input Tax Credit on Construction Cost in relation to Immovable Property- an analysis based upon the recent Supreme Court’s Judgement in Safari Retreat’s case

Input Tax Credit on Construction Cost in relation to Immovable Property- an analysis based upon the recent Supreme Court’s Judgement in Safari Retreat’s case https://www.taxtmi.com/article/detailed?id=13068 Availability of Input Tax Credit for construction-related goods and services turns on whether the asset qualifies as plant or plant or machinery. The analysis stresses the legislature's distinct use of those expressions, the applicability of a functionality test to treat a building as "plant" when constructed to meet special technical or revenue generating requirements, and the resulting case by case inquiry for credits on works contract services and separately procured goods or services. en-us Tue, 29 Oct 2024 10:28:34 +0530 Tue, 29 Oct 2024 10:28:34 +0530 TaxTMI RSS Generator Input Tax Credit on Construction Cost in relation to Immovable Property- an analysis based upon the recent Supreme Court’s Judgement in Safari Retreat’s case https://www.taxtmi.com/article/detailed?id=13068 Availability of Input Tax Credit for construction-related goods and services turns on whether the asset qualifies as plant or plant or machinery. The analysis stresses the legislature's distinct use of those expressions, the applicability of a functionality test to treat a building as "plant" when constructed to meet special technical or revenue generating requirements, and the resulting case by case inquiry for credits on works contract services and separately procured goods or services. Articles Goods and Services Tax - GST Tue, 29 Oct 2024 10:28:34 +0530 https://www.taxtmi.com/article/detailed?id=13068