RIICO ., In re
Date: June 7, 2021
Subject Matter
ITC is restricted to the goods and services used for construction of immovable property(whether capitalized or not). AAR ruling upheld.
Summary
The Rajasthan Authority of Advance Ruling has held that the term ‘extent to which capitalized’, only suggests that the extent of such expenses are expected to be capitalized or else will be treated as capitalized to such immovable propert…
At the outset, we would like to make it clear that the provisions of both the Central GST Act, 2017 and the Rajasthan GST Act, 2017 are same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the Central GST Act, 2017 would also mean a reference to the same provisions under Rajasthan GST Act, 2017. 2. The present appeal has…