AAR: Rejects application for ITC admissibility on capital goods procured under pre-GST regime

Maharashtra AAR rejects application seeking an advance ruling on admissibility of ITC in respect of capital goods received prior to July 1, 2017; Applicant was initially engaged in the business of trading in bakery products and started setting up a factory for the manufacture of such goods in 2016; Remarks that input tax sought is not in respect of ITC of tax paid or deemed to have been paid under the GST Act and that Section 97(2) of CGST Act does not deal with the input tax...