Input tax credit should be allowed on GST paid on upfront lease premium: AAR ruling

New Delhi : In a move that could come as a breather for companies and even corporate individuals, an Authority for Advance Ruling ( AAR ) has permitted tax credit on goods and services tax ( GST ) paid on upfront lease premium. Until now, this was disallowed.  Tamil Nadu AAR  in a ruling on July 27 had said, "The upfront premium made is the lease rentals as per the allotment order/letter…