Apportionment of credit and blocked credits.

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.... credit shall be restricted to so much of the input tax as is attributable to the said taxable supplies including zero-rated supplies. (3) The value of exempt supply under sub-section (2) shall be such as may be prescribed, and shall include supplies on which the recipient is liable to pay tax on reverse charge basis, transactions in securities, sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building. ^1[Explanation.-For the purposes of this sub-section, the expression ''value of exempt supply'' shall not include the value of activities or transactions specified in Schedule III, ^3[except,- (i) the value of activities or transactions specified in paragraph 5 of the said Schedule; and ....

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....sels and aircraft except when they are used-- (i) for making the following taxable supplies, namely:- (A) further supply of such vessels or aircraft; or (B) transportation of passengers; or (C) imparting training on navigating such vessels; or (D) imparting training on flying such aircraft; (ii) for transportation of goods; (ab) services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa): Provided that the input tax credit in respect of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or claus....

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....ction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service; (d) goods or services or both received by a taxable person for construction of an immovable property (other than ^6[plant and machinery]) on his own account including when such goods or services or both are used in the course or furtherance of business. Explanation ^7[1].- For the purposes of clauses (c) and (d), the expression "construction" includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property; ^8[Explanation 2.- For the purposes of clause (d), it is hereby clarified that notwiths....

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.... (i) land, building or any other civil structures; (ii) telecommunication towers; and (iii) pipelines laid outside the factory premises.     **************** NOTES:- 1. Inserted vide Section 9 of the Central Goods and Services Tax (Amendment) Act, 2018 w.e.f 01-02-2019 2. Substituted vide Section 9 of the Central Goods and Services Tax (Amendment) Act, 2018 w.e.f 01-02-2019 before it was read as, "(a) motor vehicles and other conveyances except when they are used-- (i) for making the following taxable supplies, namely:- (A) further supply of such vehicles or conveyances ; or (B) transportation of passengers; or (C) impart....