GST ITC available on Building Construction if Necessary for “Renting Out”: Supreme Court in Safari Retreats Case

In a related ruling, the Supreme Court held that GST Input Tax Credit (ITC) is available for building construction if the property is necessary for renting out. The decision in the Safari Retreats case clarified that ITC can be claimed for immovable property development when the property is meant for commercial leasing. This judgment provides relief to real estate developers and businesses that construct properties specifically for rental purposes, marking a significant development in GST law interpretation.