Buildings Can Qualify As Plants Based On Their Functionality, Says Supreme Court

If the construction of a building is essential for carrying out the activity of supplying services, such as renting it or giving it on lease, the building could be held as a plant for the purpose of availing input tax credit under the Goods & Services Tax Act, the Supreme Court has held. The apex court said that the question of whether a mall or a warehouse or any building, other than a hotel…