Input tax credit removal set to hit commercial realty companies

Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real estate companies. This amendment overturns a Supreme Court judgment favoring ITC on leased buildings. Experts suggest investors’ confidence may be affected and legal challenges are expected from taxpayers.

​Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real estate companies. This amendment overturns a Supreme Court judgment favoring ITC on leased buildings. Experts suggest investors’ confidence may be affected and legal challenges are expected from taxpayers.