Eye Share : Leasing & Real Estate under GST - Part II

In Part - 1 of their 3 part article series, Mr. Ankit Kanodia (CA, S.K. Kanodia & Associates) along with Ms. Puja Banthia (CA) analyzed the tax implications on upfront lease premium and further lease arrangement with sub-lessee (i.e. prospective customers). In Part II, the authors discuss the eligibility of ITC based on the different scenarios as discussed under Part- 1. Authors opine that ITC of GST paid on lease premium will not be available in ...