https://www.taxtmi.com/caselaws?id=800126 Input tax credit on services attributable to the fresh issue component of an initial public offering is available where the net proceeds are used in the course or furtherance of business. Business furtherance includes activities supporting, facilitating, promoting or advancing business, including capital raising for expansion, working capital, repayment of borrowings and general corporate purposes. Such fresh-issue expenses are not treated as blocked credits. Credit attributable to an offer for sale by existing shareholders is unavailable because the sale proceeds do not accrue to the company and the related expenditure is not incurred in furtherance of its business. en-us Fri, 18 Sep 2026 00:00:00 +0530 Thu, 01 Oct 2026 07:40:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800126 Input tax credit on services attributable to the fresh issue component of an initial public offering is available where the net proceeds are used in the course or furtherance of business. Business furtherance includes activities supporting, facilitating, promoting or advancing business, including capital raising for expansion, working capital, repayment of borrowings and general corporate purposes. Such fresh-issue expenses are not treated as blocked credits. Credit attributable to an offer for sale by existing shareholders is unavailable because the sale proceeds do not accrue to the company and the related expenditure is not incurred in furtherance of its business. Case-Laws GST Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800126