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Economy - January 8, 2025

Finance Ministry files review petition in SC’s Safari Retreats case ruling

Finance Ministry files review petition in SC’s Safari Retreats case ruling

The Finance Ministry wants to review a Supreme Court ruling letting real estate companies claim input tax credits on construction costs for renting. They believe there was a legislative error and seek a retrospective amendment to the GST law. The SC had ruled that buildings used for renting could be treated as 'plant' eligible for tax credits.

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