Calcutta HC issues notice in petition challenging constitutionality of 'blocked-credit'/'ITC' provisions

Calcutta HC issues notice in writ petition challenging constitutional validity of section 16 (4) and section 17 (5) of the CGST/WBGST Act to the extent that it denies the benefit of input tax credit (ITC) for construction of buildings which are on rent and exigible to GST; Counsels for the Petitioner argue that restriction contained u/s 17(5) (d) is arbitrary & violative of Article 14, inter-alia for the reason that these provisions deny ITC availment even ...