Claiming of credit

[Prudhvi Jakkula]

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.

[KASTURI SETHI]

Once you have filed ITC-02 and now if you file again, the Common Portal System will not allow you. However, if a huge amount of credit is involved you should make efforts through the jurisdictional GST Range Officer. Apply manually. As per Section 18 (3) of CGST Act, you must get your substantive right. You may get relief through litigation.

[Prudhvi Jakkula]

Thank you very much sir

[Ganeshan Kalyani]

A jurisdictional GST officer can help you out in this situation. Make an application stating the facts.

[Ganeshan Kalyani]

Further, ask all your suppliers to mention new GSTIN of yours.

[Ganeshan Kalyani]

Alternately, you can request your vendors to cancel the invoice and issue new invoice with the new GSTIN and also request them to file GSTR-1 with new GSTIN.

AI Summary

Transfer of input tax credit: pursue manual application and supplier corrections to secure credits after GST registration transfer.
Transfer of residual input tax credit after amalgamation cannot be achieved by refiling ITC-02 on the portal; taxpayers should apply manually to the jurisdictional GST officer to secure substantive right to credits arising from invoices received in the transferor's GSTIN after closure. Suppliers should correct records by quoting the transferee GSTIN, cancelling and reissuing invoices, and amending their outward returns so the input credit becomes available to the new entity.