Realty project costs, lease rents likely to rise on GST change
Financial Express Lucknow|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.

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FLERE HISTORIER FRA FINANCIAL EXPRESS LUCKNOWSe alt
Financial Express Lucknow

South steals the spotlight

Hits from Hindi film industry in post-Covid era have been fewer and far between

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3 mins  |
December 28, 2024
Financial Express Lucknow

Smart Cities Mission: School enrolment up 22%

STEPS TAKEN UNDER the Smart Cities Mission have led to a 22% increase in school enrolment in 19 cities and improved real-time tracking of criminal activities, according to two studies by the Indian Institute of Management, Bangalore.

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1 min  |
December 28, 2024
Financial Express Lucknow

Does India want BGT win or Rohit back in form?

In case openers KL Rahul or Yashasvi Jaiswal had been struggling, Rohit's elevation would have made sense. But with his form, the change of batting order wasn't really warranted

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2 mins  |
December 28, 2024
Financial Express Lucknow

UltraTech to buy stake in Star Cement

Both the players are snapping up small cement players to consolidate their positions and achieve their targeted growth ahead of time.

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1 min  |
December 28, 2024
Financial Express Lucknow

Byju Raveendran: From boom to bust

BY EARLY 2024, these issues culminated in severe consequences. US-based lenders initiated bankruptcy proceedings against Byju's to recover outstanding loans, and back home, the ministry of corporate affairs launched investigations into its financial practices.

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1 min  |
December 28, 2024
Financial Express Lucknow

Oil rises 1%, heads for weekly gain

Oil rose about 1% on Friday and was set for a weekly gain in low trading volume ahead of year-end, backed by expectations of lower US crude stockpiles and hopes of a stimulus-driven economic recovery in China.

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1 min  |
December 28, 2024
Financial Express Lucknow

IIFL Home Finance expects 15% AUM growth in FY25

● Looking at stock market listing, but no timeline yet

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2 mins  |
December 28, 2024
Financial Express Lucknow

Jewellery units lose sheen on weak Rupee

THE DEMAND IN east Asia, however, has been tepid.

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1 min  |
December 28, 2024
Financial Express Lucknow

Squid Game stocks tank

A LESS-THAN-PERFECT

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1 min  |
December 28, 2024
Financial Express Lucknow

Russia warns Trump against resumption of nuclear testing

RUSSIA'S POINT MAN for arms control cautioned Donald Trump's incoming administration on Friday against resuming nuclear testing, saying Moscow would keep its own options open amid what he said was Washington's \"extremely hostile\" stance.

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1 min  |
December 28, 2024