ITAT Bangalore GST Refund Ruling

ITAT Rules GST Refund Is Not Taxable Income; Deletes Rs 2.34 Crore Addition on Recovery-of-Asset Principle The ITAT Bangalore deleted the Rs 2.34 crore addition, holding it non-taxable since GST was not debited to the profit and loss account. It ruled a refund is a recovery of an asset, not income. The Central Processing Centre…