The Supreme Court ruled on Thursday that buildings constructed for services like renting or leasing could qualify as "plant" under the CGST Act. This would allow businesses to claim input tax credit (ITC) for construction materials used in such buildings. The Court emphasized that the functionality of the building should be considered to determine if it meets the definition of a plant.
Case Title – Chief Commissioner of Central Goods and Service Tax and Ors versus M/S Safari Retreats Private Limited and Ors. [C.A. No. 2948/2023]
Orignal copy awaited
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