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Input credit on Building constraction work
Hi frends Can we take the input credit on material and service used for construction of buildings which will be leased out after completion of construction
Replies (2)
No, you can not take....it's blocked u/s 17(5) of CGST Act, 2017..
No ITC is available for goods/services for construction of an immovable property on his own account. Even if such goods/services are used in the course or furtherance of business, ITC will not be available. But this rule does not apply to plant or machinery.
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