https://www.taxtmi.com/article/detailed?id=17172 Retrospective substitution of "plant or machinery" with "plant and machinery" in section 17(5)(d), effective from 1 July 2017, is characterised as restricting the Input Tax Credit exception for construction of immovable property on a taxable person's own account. The position advanced is that a change which enlarges a credit blockage, creates fresh financial exposure, or removes an accrued statutory benefit is substantive, notwithstanding its description as a drafting correction or clarification, and should therefore operate prospectively. en-us Wed, 12 Aug 2026 08:22:59 +0530 Mon, 28 Sep 2026 19:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17172 Retrospective substitution of "plant or machinery" with "plant and machinery" in section 17(5)(d), effective from 1 July 2017, is characterised as restricting the Input Tax Credit exception for construction of immovable property on a taxable person's own account. The position advanced is that a change which enlarges a credit blockage, creates fresh financial exposure, or removes an accrued statutory benefit is substantive, notwithstanding its description as a drafting correction or clarification, and should therefore operate prospectively. Articles Goods and Services Tax - GST Wed, 12 Aug 2026 08:22:59 +0530 https://www.taxtmi.com/article/detailed?id=17172