Real Estate Maharashtra
LIC Receives Rs 479.88 Crore GST Demand Notice from Maharashtra
Life Insurance Corporation of India (LIC) has been issued a significant GST demand notice by the Maharashtra State Tax Department, citing a shortfall of Rs 479.88 crore for the financial year 2020-21.
Real Estate
FICCI and Assocham Seek Input Tax Credit for Real Estate Developers on Commercial Properties
FICCI and Assocham have jointly urged the Finance Ministry to allow real estate developers to claim Input Tax Credit (ITC) on commercial properties intended for leasing and similar purposes. This move is aimed at reducing the financial burden on developer
Real Estate
FICCI, ASSOCHAM Push for Input Tax Credit for Real Estate Developers under CGST
Leading industry bodies, FICCI and ASSOCHAM, have strongly advocated for the inclusion of real estate developers in the Input Tax Credit (ITC) scheme under the Central Goods and Services Tax (CGST). This move aims to reduce the financial burden on develop
Real Estate Mumbai
Government's ITC Amendment May Impact Commercial Property Developers
The government's recent proposal to amend the Finance Bill 2025 with respect to input tax credit (ITC) on construction expenses for leased properties is expected to affect real estate developers of commercial properties. This move follows a Supreme Court
Real Estate
Supreme Court Ruling on Tax Credits Boosts Commercial Real Estate Investments
The Supreme Court's recent decision to permit input tax credits for construction used in taxable services is a significant boon for the commercial real estate sector, including offices, malls, and hospitality projects. This ruling is expected to reduce co
Real Estate
Unlocking Input Tax Credit (ITC) for Real Estate Sector: A Landmark Supreme Court Ruling
In a significant verdict, the Supreme Court has allowed the real estate sector to claim Input Tax Credit (ITC) on construction costs for commercial buildings used for business purposes.