‘Inputs’ are meant for Day-to-Day Business Operations not required to be Capitalized in Books of Accounts under CGST Act: Allahabad HC [Read Order]

'Inputs' are meant for day-to-day business operations not required to be capitalized in books of accounts under CGST Act, rules Allahabad HC

By Kalyani B. Nair - On March 19, 2024 3:50 pm - 2 mins read

Allahabad High Court - GST - CGST - Books of Accounts - TAXSCAN

In a recent judgment the Allahabad High Court held that ‘Inputs’ are meant for day-to-day business operations not required to be capitalized in books of accounts under the Central Goods and Service Tax Act, 2017 ( CGST Act ). The Petitioner filed for the refund of the unutilised ITC of CGST, SGST, and IGST paid…

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