ITC allowed on construction costs for rental realty
The New Indian Express|October 04, 2024
IN a landmark ruling, the Supreme Court on Thursday provided major relief to property owners by affirming that input tax credit (ITC) on construction costs for rental buildings can be claimed, likening such properties to "plants" in a factory that generate economic output.
MONIKA YADAV
ITC allowed on construction costs for rental realty

This decision not only clarifies the interpretation of the goods and services tax (GST) Act but also promises to benefit thousands of taxpayers nationwide who have faced litigation from GST departments, ensuring that those who invest in rental properties can reclaim ITC on related expenses without restriction.

Diese Geschichte stammt aus der October 04, 2024-Ausgabe von The New Indian Express.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der October 04, 2024-Ausgabe von The New Indian Express.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE NEW INDIAN EXPRESSAlle anzeigen
New Year, New Flavours in Town
The New Indian Express

New Year, New Flavours in Town

As the year comes to an end, it is time to pause, reconnect, and step into the New Year with your loved ones.

time-read
1 min  |
December 30, 2024
Synthesis Of A Sophomore Debut
The New Indian Express

Synthesis Of A Sophomore Debut

As its title suggests, director Sankagiri Rajkumar's film Bioscope, which is releasing in theatres on January 03, delves into the process of filmmaking.

time-read
1 min  |
December 30, 2024
The New Indian Express

City stop the rot with victory

MANCHESTER City provided Pep Guardiola some relief with a 2-0 victory at Leicester to secure just a second win in 14 games for the crisis-hit English champions on Sunday.

time-read
1 min  |
December 30, 2024
The New Indian Express

Tamil Nadu in command vs Goa

R RISHANTH (3/37) and T Pakirthan (3/32) took six wickets between themselves to help Tamil Nadu restrict Goa to 165 for 8 on the second day of the Vijay Merchant Trophy U-16 Elite E group match played in Surat.

time-read
2 Minuten  |
December 30, 2024
MAKING ZENSE OF LIFE
The New Indian Express

MAKING ZENSE OF LIFE

With New Year on the horizon, CE delves deep into the rising trend of meditation and mindfulness, as the UN celebrated the maiden World Meditation Day in December

time-read
4 Minuten  |
December 30, 2024
Meet the Parents Who Kept Nitish's Dreams Alive
The New Indian Express

Meet the Parents Who Kept Nitish's Dreams Alive

MUTYALA Reddy was the star at lunch on day four of the Boxing Day Test at the Melbourne Cricket Ground.

time-read
4 Minuten  |
December 30, 2024
Who Will Have the Last Laugh?
The New Indian Express

Who Will Have the Last Laugh?

After an eventful contest between ball & bat on Day 4, final day promises to be a thriller

time-read
3 Minuten  |
December 30, 2024
Australia trade pact completes two years; India exports up 14% in FY24
The New Indian Express

Australia trade pact completes two years; India exports up 14% in FY24

THE India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), which completed two years on Sunday, has helped India increase its exports by 14% to the Indo-pacific nation in FY24.

time-read
1 min  |
December 30, 2024
The New Indian Express

Reliance's refinery at Jamnagar completes 25 yrs

RELIANCE launched its first refinery at Jamnagar, Gujarat, 25 years ago, on December 28. Today, Jamnagar has become the world's refining hub.

time-read
1 min  |
December 30, 2024
VIL welcomes govt's BG waiver, says will boost 4G, 5G investment
The New Indian Express

VIL welcomes govt's BG waiver, says will boost 4G, 5G investment

TELECOM service provider Vodafone Idea Limited (VIL) has welcomed the Indian government's decision to waive the Bank Guarantee (BG) requirement for the purchase of spectrum, calling it a significant relief for the telecom industry.

time-read
1 min  |
December 30, 2024