Credit Relief For Leasing Of Immovable Property Will Lower Operational Costs

Allowing credit on Goods and Services Tax paid on upfront payment of rent would help lower litigation and overall operational cost of companies, experts said while opining on a recent order by the Tamil Nadu Authority for Advance Ruling. The AAR allowed allowed input credit tax on GST paid by Kamarajar Port Ltd. on advance rent paid to Chennai Port Trusts.  "The upfront premium made is the le…