https://www.taxtmi.com/forum/issue?id=115131 Section 17(5) denies input tax credit for goods or services received for construction of immovable property on the taxpayer's own account, with "construction" including activities to the extent they are capitalised. Works contract services are separately treated under clause (c), which excludes ITC when used for construction except where they serve as inputs for further works contract supplies. Builders classifying under construction flats as inventory rather than capital assets may claim ITC because such costs are not capitalised. en-us Thu, 27 Jun 2019 11:52:29 +0530 Thu, 23 Jan 2025 15:55:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115131 Section 17(5) denies input tax credit for goods or services received for construction of immovable property on the taxpayer's own account, with "construction" including activities to the extent they are capitalised. Works contract services are separately treated under clause (c), which excludes ITC when used for construction except where they serve as inputs for further works contract supplies. Builders classifying under construction flats as inventory rather than capital assets may claim ITC because such costs are not capitalised. Discussion-Forum GST Thu, 27 Jun 2019 11:52:29 +0530 https://www.taxtmi.com/forum/issue?id=115131