Realty project costs, lease rents likely to rise on GST change
Financial Express Ahmedabad|December 24, 2024
THE GST Council's decision to retrospectively amend the Central Goods and Services Tax (CGST) Act to restrict input tax credit (ITC) on construction services for commercial real estate such as malls, shops, etc., for leasing could push project costs and increase rents, said experts.
RAGHAVENDRA KAMATH

Developers could also move court against the amendment, experts added.

In a case involving one Safari Retreats, the Supreme Court earlier allowed ITC claims on construction costs for rental properties. However, at the 55th meeting at Jaisalmer, the Council decided to retrospectively amend the Act, reversing the ruling that allowed ITC.

هذه القصة مأخوذة من طبعة December 24, 2024 من Financial Express Ahmedabad.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 24, 2024 من Financial Express Ahmedabad.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FINANCIAL EXPRESS AHMEDABAD مشاهدة الكل
Financial Express Ahmedabad

Chants meet chatbots at this year's Maha Kumbh

SADHUS DONNING SUNGLASSES and sneakers at the Maha Kumbh will also be chatting with an AI bot this year, to know something as mundane as what time the morning snan will be, or where the nearest toilet is.

time-read
2 mins  |
January 10, 2025
Financial Express Ahmedabad

Trump tariffs: Auto suppliers rethink production plans

Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

Premium online video market to double by 2028: Report

INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

Meta's fact-checking snub in US alarms India

AS META ANNOUNCED the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

RBI governor seeks to improve forecasting

Two of the sources Reuters spoke to said the RBI would look to increase datasets required to gauge trends in income and expenditure better.

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

Simplified income tax law in Budget session likely

Similar attempts in the past to simplify the I-T law, most notable being the Direct Taxes Code drafted in 2009 by the UPA govt

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

TCS profit rises 4% in Q3

AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%. The key segment - banking, financial services and insurance (BFSI) - reported a modest sequential growth of 0.9%, compared to 0.1% in Q2.

time-read
2 mins  |
January 10, 2025
Financial Express Ahmedabad

Taliban urges India to ease visa process

First High-Level Meet

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

Hush money: Court rejects Trump bid to delay sentencing

NEW YORK'S TOP court rejected on Thursday Donald Trump's request to halt the president-elect's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, with a decision on a possible delay now in the hands of the President-elect.

time-read
1 min  |
January 10, 2025
Financial Express Ahmedabad

Hollywood Hills burn as big blaze engulfs LA

THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.

time-read
1 min  |
January 10, 2025