Dear experts,
I merged my business with another entity and my business was closed on 31st march 2019. So i filed ITC-02 to transfer all my GST credit to the new entity.
Problem is, now i am receiving old bills for my old gst number. Can i transfer this credit to my new entity. New entity has got more sales and liability is huge. So i require that input. How can i transfer this credit to my new entity.
Please let me know.
Individual Faces GST Credit Transfer Issue After Business Merger; Manual Application Recommended Due to ITC-02 Limitations An individual sought advice on transferring GST credit to a new entity after merging their business and closing the previous one. Despite filing ITC-02 to transfer GST credit, they continue to receive old bills under the former GST number. Experts advised that the Common Portal System won't allow a second ITC-02 filing, but suggested applying manually through a jurisdictional GST officer. They recommended requesting suppliers to update invoices with the new GSTIN or issue new invoices. Additionally, it was suggested to pursue litigation if necessary to secure the credit transfer. (AI Summary)
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