https://www.taxtmi.com/circulars?id=63775 Clarifies apportionment and transfer of input tax credit on business reorganisations: unutilised ITC may be transferred by filing FORM GST ITC-02; "value of assets" covers entire business assets. Apportionment by asset-value ratio applies to demergers and any partial business transfers, calculated at each distinct registration (state) level rather than all-India, and applies to the aggregate ITC including cess. The transferable ITC is computed on the transferor's electronic credit ledger balance as on filing date of FORM GST ITC-02; the asset ratio is taken as of the scheme's appointed date. en-us Tue, 21 Apr 2020 00:00:00 +0530 Wed, 22 Apr 2020 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63775 Clarifies apportionment and transfer of input tax credit on business reorganisations: unutilised ITC may be transferred by filing FORM GST ITC-02; "value of assets" covers entire business assets. Apportionment by asset-value ratio applies to demergers and any partial business transfers, calculated at each distinct registration (state) level rather than all-India, and applies to the aggregate ITC including cess. The transferable ITC is computed on the transferor's electronic credit ledger balance as on filing date of FORM GST ITC-02; the asset ratio is taken as of the scheme's appointed date. Circulars GST - States Tue, 21 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63775