AAR: Allows ITC on equipments, furniture, reagents, consumables, to Diagnostic Laboratory, subject to Section 17(2) restriction

Karnataka AAR holds that the applicant (Bangalore Medical System) is eligible for ITC on the tax paid on the purchases of goods i.e. equipments, furniture, etc. purchased for the project of setting up a Molecular Diagnostic Laboratory and also on reagents/consumables used for performing the test, subject to the restriction of same in terms of section 17(2) of CGST Act, 2017; Noting that applicant set up full-fledged laboratory in the premises of Kidwai Memorial Institute of O...