Profit InsightsIssue Of Input Tax Credit On Immovable Properties — NDTV Profit Explains
ADVERTISEMENT
Issue Of Input Tax Credit On Immovable Properties — NDTV Profit Explains
The apex court's judgment of considering construction of building in certain cases for availing input tax credit under GST has laid to rest the controversy view on the same.
The apex court held that building essential for supplying services could be held as a plant to avail input tax credit under GST Act
(Photo source: NDTV Profit)
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things, wrote the celebrated economist Adam Smith almost three centuries ago in the Wealth of Nations. It would appear that this formula for national affluence is relevant even in the present day.Reson...