The relevant provisions says that input tax credit on good and services used for the construction of immovable property are not allowed. Also construction includes renovation, alterations, additions, etc, which are capitalised in the books of accounts
ITC of the taxes paid is blocked in the case if goods or services or both received by a taxable person for construction of an immovable property on his own account. Renovation is included in construction of immovable property.
CAclubindia
