Input credit of excise duty in renting of immovable property

This query is : Resolved

Neha (Querist)
Follow

01 March 2015 Assessee is engaged in construction of commercial complex. He is getting various materials for construction on which he is paying excise duty. When commercial complex will be ready, same will given on rent to various shop keepers and service tax will be charged. Can assessee claim input credit of excise duty paid on materials procured for construction?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 March 2015 He can't claim input credit on excise duty paid on materials procured for construction.
See the link.
http://www.cbec.gov.in/ub1112/cent03-2k11.pdf

Neha

Neha (Querist)
Follow

01 March 2015 Thanks for your reply. Two more clarifications required

1. Will Oberoi mall Ltd. not be applicable as belongs to situation before April 1, 2011?

2.What should be corrective action if assessee has claimed in return (but not utilized)?

Thanks!