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of <h1>Andhra Pradesh Clarifies Input Tax Credit Apportionment in Business Reorganizations Under APGST Act and Rules.</h1> The circular issued by the Andhra Pradesh Commercial Taxes Department provides clarification on the apportionment of input tax credit (ITC) during business reorganizations under the APGST Act and Rules. It addresses queries about ITC transfer in cases of mergers, demergers, and other reorganizations. Key points include the requirement to apportion ITC based on the state-level value of assets during demergers, the necessity for filing Form GST ITC-02 only in states where both parties are registered, and the application of asset value ratios to the total ITC balance rather than individual tax heads. The circular also specifies relevant dates for calculating ITC and asset ratios.
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