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GEOJITH FINANCIAL SERVICES LTD.
(Authority for Advance Ruling, Kerala)

Hon'ble Judges:

Pet. Counsel
---
Res. Counsel
---

Petitioner / Applicant

GEOJITH FINANCIAL SERVICES LTD.
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Kerala

Date Sep 19, 2018
Order No.

KER/13/2018

Citation

2018(9) TAXREPLY 261
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ORDER

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: i) Whether computers, laptops etc. used by the applicant for providing output service would qualify as inputs for the purpose of availing transitional ITC under Section 140(3) of KSGST Act? ii) If the goods are physically available as closing stock as on 30th June, 2017, can the applicant avail ITC for the VAT paid? The authorized representative was heard. He has stated that by virtue of the statutory provisions, the applicant is entitled to get the input tax on the ....

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