Sumanta Nayak 24 June 2021

Itc-02 after due date

in case of transfer of business,ITC available on the date of tranfer can be transferred. In case some suppliers file GSTR_1 after due date the same can not be claimed as ITC for the month of Transfer due to Cap of 10% or 5%.Then how to tranfer the balance ITC ?.Can we file ITC-02 after obtaining all ITC in 3B on next two or three months?

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4 Replies

CA Altamush Zafar (GST Consultant) 24 June 2021

ITC-02 to be filed after transfer of business anytime

Pankaj Rawat (GST Practitioner) 25 June 2021

Yes you can file ITC 02 after availing the credit on invoices being late furnished by your supplier . But still its advisable the kindly make BTA (business Transfer Agreement) only after all such credit being availed by you.

Sumanta Nayak 27 June 2021

If one wait for transfer after availing all credit it will be a never ending process or stop purchase for sometime.

CA Altamush Zafar (GST Consultant) 27 June 2021

Start purchasing from the new gstin. Stop in old one.

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