https://www.taxtmi.com/forum/issue?id=119133 Liabilities for periods before a transfer of business as a going concern ordinarily remain the transferor's responsibility; unutilised ITC transferred via ITC-02 becomes the transferee's credit and cannot be used by the transferor to discharge pre-transfer tax, though a provision contemplates joint and several liability of transferor and transferee. Parties may contractually allocate future liability to the transferee, but such clauses do not negate statutory liability and should be disclosed to the tax authority. en-us Fri, 31 May 2024 12:22:10 +0530 Fri, 24 Jan 2025 10:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119133 Liabilities for periods before a transfer of business as a going concern ordinarily remain the transferor's responsibility; unutilised ITC transferred via ITC-02 becomes the transferee's credit and cannot be used by the transferor to discharge pre-transfer tax, though a provision contemplates joint and several liability of transferor and transferee. Parties may contractually allocate future liability to the transferee, but such clauses do not negate statutory liability and should be disclosed to the tax authority. Discussion-Forum GST Fri, 31 May 2024 12:22:10 +0530 https://www.taxtmi.com/forum/issue?id=119133