Realtors get notices questioning ₹3,500 cr input tax credit claims

GST authorities have issued show cause notices to several property developers, questioning roughly ₹3,500 crore in input tax credit claims following a Supreme Court ruling. Developers are contesting the notices, arguing that officials are misinterpreting the ruling and unfairly denying legitimate credits. The court's decision allows ITC claims for rental properties under specific conditions, leading to disputes over eligibility.