https://www.taxtmi.com/caselaws?id=376737 Transitional input tax credit under Section 140(3) is confined to inputs held in stock that are also eligible for input tax credit under the existing law and the GST regime. Computers and laptops used by a service provider were treated as capital goods in the pre-GST records and remained capitalised in the books, so they did not qualify as inputs for transitional credit merely because they were lying in closing stock on the appointed day. VAT paid on those goods was therefore not eligible for carry forward under Section 140(3), and the appeal was rejected. en-us Fri, 14 Dec 2018 00:00:00 +0530 Fri, 07 Mar 2025 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376737 Transitional input tax credit under Section 140(3) is confined to inputs held in stock that are also eligible for input tax credit under the existing law and the GST regime. Computers and laptops used by a service provider were treated as capital goods in the pre-GST records and remained capitalised in the books, so they did not qualify as inputs for transitional credit merely because they were lying in closing stock on the appointed day. VAT paid on those goods was therefore not eligible for carry forward under Section 140(3), and the appeal was rejected. Case-Laws GST Fri, 14 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376737