AAR: Denies ITC on inputs procured before effective date of registration

Karnataka AAR holds that the applicant is not eligible to claim ITC of taxes paid on input invoices of goods or services procured or availed by a registered person before its effective date of registration under GST; Further holds that the applicant is only eligible to claim ITC of the tax paid on such goods (inputs) lying in stock on the day previous to the effective date of registration, which are intended to be used in the course or furtherance of business, subject to othe...