Non-availability of refunds to hit telecom tower firms

Telecom tower firms will not get refunds on taxes paid by them on their inputs under the GST regime

Megha Manchanda  |  New Delhi 

Telecom tower companies will not get refunds on taxes paid by them on their inputs under the goods and services tax (GST) regime, which is slated to be rolled out from July 1. The refunds, called input tax credit, have been omitted in the final draft of the GST Bills.   The matter was discussed by the GST Council, which decided that input tax credit should not be available to telecom tower firms. It is learnt that a finance ministry official argued that anything attached to earth becomes immovable property and that no GST is paid, hence, no credit should be available.   But ...

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Read our full coverage on GST

Non-availability of refunds to hit telecom tower firms

Telecom tower firms will not get refunds on taxes paid by them on their inputs under the GST regime

Telecom tower firms will not get refunds on taxes paid by them on their inputs under the GST regime Telecom tower companies will not get refunds on taxes paid by them on their inputs under the goods and services tax (GST) regime, which is slated to be rolled out from July 1. The refunds, called input tax credit, have been omitted in the final draft of the GST Bills.   The matter was discussed by the GST Council, which decided that input tax credit should not be available to telecom tower firms. It is learnt that a finance ministry official argued that anything attached to earth becomes immovable property and that no GST is paid, hence, no credit should be available.   But ... image
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