News & Media 5th Feb 2025
Availability of credit for taxes paid on inputs – be it goods such as raw material, or services for setting off against Goods and Services Tax (GST) liability plays an important role in GST arena. Input tax credit (ITC) helps reduce the tax outgo for the GST payer. A retrospective amendment, which comes into effect from July 1, 2017, debars entities, such as commercial real estate companies from claiming ITC on construction costs for their rental buildings.
Against this backdrop, Our Deputy Managing Partner, Rohit Jain has been quoted in an article, “Input tax credit removal sit to hit commercial realty companies” written by Lubna Kably published in The Times of India.
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