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of <h1>Transfer Unutilized Input Tax Credit During Business Changes: Rule 41 of CGST Rules 2017 Explained</h1> Rule 41 of the Central Goods and Services Tax Rules, 2017, outlines the procedure for transferring unutilized input tax credit during the sale, merger, amalgamation, lease, or transfer of a business. The registered person must submit details electronically through FORM GST ITC-02 and request credit transfer to the transferee. In cases of demerger, credit is apportioned based on asset value. A chartered or cost accountant must certify the transaction includes liability transfer provisions. The transferee must accept the details on the portal, after which the credit is transferred to their electronic ledger, and they must account for the inputs and capital goods.
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