Geojith Financial Services Ltd ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- Kerala
- Date:
- September 19, 2018
- Type:
- Advance Ruling
Subject
Computers, laptops used for providing output service don’t qualify as inputs for availing of transitional ITC
Summary
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. Base…
Judgement
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 poss…