AAAR : Upholds AAR, disallows transitional credit on computers, laptops to retail financial service provider

AAAR dismisses appeal against order of AAR, holds that appellant, providing retail financial services, is not eligible to claim ITC under transitional provisions contained u/s 140(2)/140(3) of the Kerala Goods and Service Tax Act, 2017 (KSGST Act) of VAT paid during pre-GST period on computers and laptops, etc. physically available on June 30, 2017; Refers to Section 2(19) of KSGST Act which defines “capital goods” as goods value of which is capitalized in books of accoun...