In put tax paid on construction of Convention Halls

[Ravikumar Doddi]

Dear sir,

Our applicant has constructed a convention Hall and paid a ₹ 1 Cr of Input tax on Construction of shed and other Material which is form part of Immovable property, will they eligible for ITC and can it be adjustable to out put tax. Earlier I read about ITC on construction of Hall which is let out for commercial purpose. Kindly guide us.

AI Summary

Input tax credit restriction for construction of immovable property may be blocked, seek an advance ruling to determine entitlement.
Input Tax Credit on materials and services used in constructing a convention hall that form part of immovable property is disallowed as blocked under section 17(5). Respondents note that judgments cited by the inquirer have been challenged by the department and recommend obtaining an advance ruling, which would bind the applicant and determine entitlement in the specific factual context.