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HARISANKAR V. MENON
Geojit Financial Services Limited – Appellant
Versus
Union of India – Respondent
| Table of Content |
|---|
| 1. petitioner purchased computers/laptops (Para 2 , 3 , 4 , 5) |
| 2. petitioner's claim under section 140(3) (Para 6) |
| 3. government's contention on input credit (Para 7) |
| 4. senior counsel's submission on eligibility (Para 8) |
| 5. consideration of rival submissions (Para 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19) |
| 6. entitlement for transitional credit (Para 20) |
| 7. writ petition allowed (Para 21) |
JUDGMENT
The petitioner, stated to be engaged in providing various financial services, has filed the captioned writ petition seeking to challenge Ext.P4 order issued by the Appellate Authority for Advance Ruling, Kerala, under the provisions of the CGST/SGST, Act, 2017.
2. The petitioner states that as on 30.06.2017, it had a stock of computers, laptops etc. purchased from within the State of Kerala, paying the tax due under the provisions of the Kerala Value Added Tax Act, 2003 (for short “KVAT Act”). It states that during the pre-GST period, it was not having registration under the KVAT Act, since it was only a service provider not covered thereunder. However, when GST was introduced on 01.07.2017, it claimed that it was eligible for availing transitional credit under Chapter
The court established that computers/laptops used for providing services do not qualify as capital goods under the KVAT Act, thus entitling the petitioner to transitional credit under Section 140(3) ....
The court affirmed the right to Transitional Input Tax Credit under Section 140 and mandated timely verification of claims without delay caused by technical issues.
The requirement to submit TRAN-1 for claiming transitional credit under Section 140 of the CGST Act, 2017 is mandatory and cannot be bypassed.
The court established that unutilized cesses cannot be transitioned to GST, and refund claims for such cesses are not maintainable under the current legal framework.
Input Tax Credit is a property right; denial due to clerical errors is unjustified, emphasizing necessity for the taxpayer to correct mistakes without losing entitled benefits.
The entitlement to Input Tax Credit cannot be denied on account of procedural problems and technical glitches.
The court established that transitional CENVAT credit can be carried forward into the GST regime and utilized for claiming refunds under the CGST Act, rejecting hyper-technical interpretations by aut....
The prohibition on claiming input tax credit per Section 16(3) of the CGST Act relates specifically to the tax component for which depreciation is claimed and does not extend to unavailed input tax c....
Proceedings under Section 74 of the CGST Act cannot be initiated without evidence of fraud or misstatement if prior proceedings under Section 73 have been concluded.
Transfer of an entire business as a going concern does not constitute taxable supply under GST; input tax credit can transfer under specified conditions.
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