SGST ITC Credit transfer

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This discussion explains the process for transferring unutilised SGST Input Tax Credit (ITC) from a proprietorship to a partnership business. This is done by filing Form GST ITC-02 when the business is sold, merged, or demerged. The user also requested the format for the Chartered Accountant certificate required for this transfer.

Devendra

Devendra (Querist)
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05 May 2021 Pl. give procedure of SGST ITC Credit of Proprietorship Business transfer to Partnership Business

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 May 2021 In case of transfer of business by way of sale of business, merger or demerger, a registered taxpayer can transfer the input tax credit unutilised and available in his electronic credit ledger into another business by filing a declaration in Form GST ITC-02.

Devendra

Devendra (Querist)
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06 May 2021 Thanks for your reply Sir,
Can you send me CA certificate format for transfer of ITC-02

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