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<h1>Transfer of input tax credit requires FORM GST ITC 02 filing and transferee acceptance for ledger credit.</h1> Transfer of input tax credit on sale, merger, de merger, amalgamation, lease, transfer or change of ownership requires the transferor to furnish details in FORM GST ITC 02 and request electronic transfer of unutilised credit. In a de merger the credit is apportioned by value of assets (covering all assets). A practising chartered or cost accountant must certify that liabilities transfer is provided for. The transferee must accept the portal submission for credit to be credited to its electronic ledger and must account for transferred inputs and capital goods in its books.
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