Apportionment of input tax credit: asset-value ratio allocates unutilised GST credit at the state registration level. Clarifies apportionment and transfer of input tax credit on business reorganisations: unutilised ITC may be transferred by filing FORM GST ITC-02; 'value of assets' covers entire business assets. Apportionment by asset-value ratio applies to demergers and any partial business transfers, calculated at each distinct registration (state) level rather than all-India, and applies to the aggregate ITC including cess. The transferable ITC is computed on the transferor's electronic credit ledger balance as on filing date of FORM GST ITC-02; the asset ratio is taken as of the scheme's appointed date.