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Review Petition filed by GST Department before Supreme Court in the matter of Safari Retreats Private Limited for its order dated 03.10.2024.
Below are the details of Safari Retreat Ruling by SC in which, court examined clauses (c) and (d), which disallow ITC for constructing immovable properties. The Court determined that the differentiation between plant or machinery and plant and machinery implies an intentional legislative choice, rejecting the argument that it was a drafting error.
After this judgement of SC, 55th GST Council proposed an amendment to correct the drafting error in Section 17(5).
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Proposed Amendment in section 17(5)(d) of CGSTAct, 2017 by 55th GST Council on 21.12.2024. To align the provisions of section 17(5)(d) of CGST Act, 2017 with the intent of the said section, the Council has recommended amending section 17(5)(d) of CGST Act, 2017, to replace the phrase "plant or machinery" with "plant and machinery", retrospectively, with effect from 01.07.2017, so that the said phrase may be interpreted as per the Explanation at the end of section 17 of CGST Act, 2017. |
What is the SC order dated 03.10.2024?
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