ITC allowed on construction costs for rental realty
The New Indian Express|October 04, 2024
IN a landmark ruling, the Supreme Court on Thursday provided major relief to property owners by affirming that input tax credit (ITC) on construction costs for rental buildings can be claimed, likening such properties to "plants" in a factory that generate economic output.
MONIKA YADAV
ITC allowed on construction costs for rental realty

This decision not only clarifies the interpretation of the goods and services tax (GST) Act but also promises to benefit thousands of taxpayers nationwide who have faced litigation from GST departments, ensuring that those who invest in rental properties can reclaim ITC on related expenses without restriction.

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