<h1>CBEC Clarifies Cenvat Credit Rules: No Input Credit on Service Tax for Constructing Immovable Property Under CENVAT Credit Rules, 2004.</h1> The Central Board of Excise and Customs (CBEC) has amended its master circular to address the issue of Cenvat Credit concerning the renting of immovable property. The clarification states that the right to use immovable property is subject to service tax under renting services. However, since immovable property is neither classified as a 'service' nor 'goods' subject to excise duty, input credit of service tax cannot be claimed for commercial or industrial construction services used in constructing immovable property. This clarification is based on the CENVAT Credit Rules, 2004.