Real estate seeks input tax credit for leasing activities

19 Jan 2021 CW Staff

Realty developers and global institutional investors with exposure to commercial real estate have approached the government seeking input tax credit (ITC) for leasing activity.

Representatives from international funds, private equity players and leading real estate developers will be meeting officials of the Ministry of Finance this week following the submissions made by them in this matter, media sources say.

These entities are seeking input tax credit on goods or services used for the construction of immovable property against leasing services, which is currently restricted under Section 17(5) of the Central Goods & Services Tax Act, 2017. Under the earlier service tax regime, a developer constructing premises used for leasing was not restricted from availing Central Value Added Tax (CENVAT) credit (input tax credit) on service tax paid on services other than works contract services.

Under the current GST regime, credit on all inputs and input services are blocked to the same developer, as per a submission made to the government by Asia Pacific Real Estate Association.

Image Source

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..