https://www.taxtmi.com/article/detailed?id=17172 Section 124 of the Finance Act, 2025 applies a stricter plant-and-machinery condition to the Section 17(5)(d) exception from blocked input tax credit from 1 July 2017. The change is characterised as substantive rather than clarificatory because it may remove an existing credit entitlement and impose a fresh financial burden on taxpayers that invested in commercial properties for taxable leasing or renting. The proposed approach is prospective operation of any credit restriction, preservation of accrued credits, and suspension of coercive recovery pending functional evaluation. en-us Wed, 12 Aug 2026 08:22:59 +0530 Wed, 12 Aug 2026 08:22:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17172 Section 124 of the Finance Act, 2025 applies a stricter plant-and-machinery condition to the Section 17(5)(d) exception from blocked input tax credit from 1 July 2017. The change is characterised as substantive rather than clarificatory because it may remove an existing credit entitlement and impose a fresh financial burden on taxpayers that invested in commercial properties for taxable leasing or renting. The proposed approach is prospective operation of any credit restriction, preservation of accrued credits, and suspension of coercive recovery pending functional evaluation. Articles Goods and Services Tax - GST Wed, 12 Aug 2026 08:22:59 +0530 https://www.taxtmi.com/article/detailed?id=17172