AAR: Denies ITC of GST paid on lease premium charges, annual lease rentals & Maintenance charges for land lease

Telangana AAR holds the applicant ineligible to avail ITC of GST paid on payment of (i) Lease premium charges, (ii) Annual Lease Rent and (iii) Maintenance charges paid towards lease of land; Perusing the agreement, notes that applicant acquired land from IKP Knowledge Park (lessor) on lease for the purpose of construction of a building where their own laboratory would be accommodated for which it paid said charges”; Opines that ‘building’ which is to be constructed by ...