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Computers used for providing output service don’t qualify as inputs for availing of transitional ITC: AAR

October 9, 2018[2018] 98 160 (AAR - KERALA)

GST: Computers, laptops etc. used by applicant 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. for providing output service would not qualify as inputs for purpose of availing transitional ITC under section 140(2)/140(3) of GST Act. Sub-section (2) of section 140 is specific to point that input tax credit not admissible as under existing law is ineligible to claim input tax credit under GST Act.

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