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ITC 02 explain

Ankit Rikhi (567 Points)

26 April 2018

if a knowledge regarding itc 02 pls explain

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Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 26 April 2018

Transfer of credit on sale, merger, amalgamation, lease or transfer of a business
A registered person shall, in the event of sale, merger, de-merger, amalgamation, lease or transfer or change in ownership of business for any reason, furnish the details of sale, merger, de-merger, amalgamation, lease or transfer of business, in FORM GST ITC-02, electronically on the Common Portal along with a request for transfer of unutilized input tax credit lying in his electronic credit ledger to the transferee:
Provided that in the case of demerger, the input tax credit shall be apportioned in the ratio of the value of assets of the new units as specified in the demerger scheme

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