Case Law Details
In re M/s. Geojith Financial Services Ltd. (GST AAR Kerala)
Computers, laptops etc. used for providing output service would not qualify as inputs for the purpose of availing transitional ITC u/s 140(2) / 140(3) of KSGST Act. These goods are not eligible for ITC for the VAT period.
Also Read AAAR Ruling – Transitional ITC not eligible on Computers, Laptops etc.
FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, KERALA
The applicant is engaged in providing various retail financial services like stock broking, share broking, marketing of initial public offering of companies and mutual funds, corporate advisory services etc. which were not taxable under VAT Law. Based on the transitional provisions, they have claimed input tax credit on closing stock of computers, laptops and other goods lying in the physical possession of the applicant as on 30th June 2017. In the circumstances advance ruling is sought for on the following:-
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