We have converted LLP on 28/04/2022 to a Pvt Ltd company and have taken new GST registrations of Pvt Ltd Company.Now we have to file ITC 02 in LLP to transfer all the unutilised credit to Pvt Ltd.
Below are the questions:
1. How we can prove that business has been converted with specific provision to transfer liabilities.
2. We have tried to match all the credit but still if ITC appears in GSTR 2B after transfer then what is to be done.
3. Is there any time limit to file ITC 02?
4. Is there any time limit to surrender LLP GSTNumber?
LLP to Pvt Ltd Conversion: Key Points on Unutilized GST Credit, Liability Transfer, ITC 02 Filing, and GST Number Surrender. A discussion on the conversion of a Limited Liability Partnership (LLP) to a Private Limited (Pvt Ltd) company raised several questions about transferring unutilized GST credit. The main concerns included proving the business conversion with liability transfer provisions, handling discrepancies in credit post-transfer, and the time limits for filing ITC 02 and surrendering the LLP GST number. Responses clarified that a certificate from a chartered accountant is needed to prove liability transfer, no specific time limits exist for filing ITC 02 or surrendering the GST number, and all liabilities are typically transferred during conversion. (AI Summary)
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