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of <h1>Transfer of Unutilized GST Input Tax Credit via Form ITC-02 After Business Ownership Changes</h1> When a registered person undergoes a change in constitution due to sale, merger, demerger, amalgamation, lease, or transfer of business ownership including liabilities, the unutilized input tax credit (ITC) in the electronic credit ledger can be transferred to the new entity using Form GST ITC-02 on the common portal. In demergers, ITC must be apportioned based on the asset values of the resulting units. A practicing Chartered Accountant or Cost Accountant must certify that liabilities are transferred. The transferee must accept the details on the portal and record the inputs and capital goods in their accounts. For multiple registrations within a state or union territory, ITC can be transferred among new registrations within 30 days via Form GST ITC-02A, apportioned by asset values. When capital goods on which ITC was claimed are supplied, the registered person must pay the higher of the adjusted ITC amount or tax on the transaction value.
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