Govt examines easing blocked GST credit on construction for own use

The government is examining industry concerns over the denial of input tax credit (ITC) on goods and services used to construct immovable property for its own use, according to senior government official. ITC is goods and services tax (GST) paid by a business on its purchases. This it can set off against the tax it has to pay on its sales.   The issue is being discussed with states, but no ag…