https://www.taxtmi.com/article/detailed?id=12010 Permanent transfer of business assets on which input tax credit was availed is a supply even without consideration, unless the transfer qualifies as a going concern and is thus exempt. The transferor remains liable only up to the transfer date. Transferees must register or amend registration; on death of a sole proprietor, successors must follow registration, cancellation and ITC transfer procedures using FORM GST ITC-02, and accept credited input tax credits which must be accounted for in their books. en-us Wed, 01 Nov 2023 10:13:33 +0530 Wed, 01 Nov 2023 10:13:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12010 Permanent transfer of business assets on which input tax credit was availed is a supply even without consideration, unless the transfer qualifies as a going concern and is thus exempt. The transferor remains liable only up to the transfer date. Transferees must register or amend registration; on death of a sole proprietor, successors must follow registration, cancellation and ITC transfer procedures using FORM GST ITC-02, and accept credited input tax credits which must be accounted for in their books. Articles Goods and Services Tax - GST Wed, 01 Nov 2023 10:13:33 +0530 https://www.taxtmi.com/article/detailed?id=12010