A builder / developer is employing various contractors for construction of immovable properties (falt/villa). As per section 17(5) of CGST Act, input credit is not available on works contract service when supplied for construction of an immovable property, except where it is an input service for further supply of works contract service.
Can the services on Construction of building, complex etc can be avail input credit on Work contract service? The rate of works contract (18%) and construction of building complex etc (12% if land included) is different.
Is there any clarification given in this regard?
Can anyone advise on the above.
CAclubindia
