Quoted in Business Standard: Our Take on the Budget 2026 Indirect Tax Changes.

A MMRCA partner was quoted in Business Standard on the indirect tax measures announced in Budget 2026, with particular focus on classification changes affecting manufacturers, job workers and real-estate developers.

Key themes from the commentary

The article highlighted how reclassification of certain construction and input services could affect input tax credit eligibility and invoice documentation for developers mid-project.

Manufacturers were advised to revisit product master data and HSN mappings before the new provisions take effect, rather than waiting for the first post-budget return cycle.

Client implications

Developers with ongoing JDA and TDR arrangements should model the cash-flow impact of any ITC restriction on common-area and infrastructure spend.

MMRCA is issuing a detailed client note to affected sectors; contact the Tax desk for a sector-specific briefing.