Itc-02 after due date

This discussion addresses the complexities of transferring Input Tax Credit (ITC) using Form ITC-02 after a business transfer. It clarifies that ITC available at the time of transfer can indeed be moved. However, issues arise when suppliers file their GSTR-1 late, impacting ITC claims due to caps. The advice suggests that while you can file ITC-02 after receiving delayed credits, it's best to finalise the Business Transfer Agreement only after all eligible ITC has been claimed. Alternatively, one can start purchasing under the new GSTIN and stop purchases under the old one.