Whether the buyer of flat / office can avail the amount of ST paid as CENVAT Credit?
In the case of immoveable property being residential flat, there is no question of availment of CENVAT Credit. As far as premises used as office is concerned, the same being immoveable property it will have to be examined whether rule 2(a) covers it or not. Under Rule 2(a) of CENVAT Rules, Capital Goods have been assigned restricted meaning. It does not cover premises. In view of this, it will not be possible to avail CENVAT Credit of the amount paid as ST to the builder.
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