https://www.taxtmi.com/article/detailed?id=17172 Retrospective restriction of Input Tax Credit under section 17(5)(d) is presented as a substantive narrowing of credit eligibility rather than a clarificatory drafting correction. The article argues that taxpayers undertaking commercial construction for taxable leasing relied on the earlier statutory wording and the functional approach to claim credit. It contends that retrospective denial may extinguish accrued rights, disrupt completed commercial arrangements, create unrecoverable tax costs, and undermine the seamless-credit objective of GST. It advocates prospective operation of any tightened restriction and administrative restraint on coercive recovery pending factual determination of eligibility. 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 Retrospective restriction of Input Tax Credit under section 17(5)(d) is presented as a substantive narrowing of credit eligibility rather than a clarificatory drafting correction. The article argues that taxpayers undertaking commercial construction for taxable leasing relied on the earlier statutory wording and the functional approach to claim credit. It contends that retrospective denial may extinguish accrued rights, disrupt completed commercial arrangements, create unrecoverable tax costs, and undermine the seamless-credit objective of GST. It advocates prospective operation of any tightened restriction and administrative restraint on coercive recovery pending factual determination of eligibility. Articles Goods and Services Tax - GST Wed, 12 Aug 2026 08:22:59 +0530 https://www.taxtmi.com/article/detailed?id=17172