https://www.taxtmi.com/circulars?id=67490 Clarification requires apportionment of unutilized input tax credit in reorganisations by applying the asset-value ratio specified in the demerger scheme; "value of assets" means entire business assets. Apportionment is to be performed at each State registration level, applies to the aggregate ITC (CGST, SGST/UTGST and IGST) and cess, and transfers use the ITC balance on the date of filing Form GST ITC-02. The asset ratio is to be taken as on the appointed date of demerger. en-us Mon, 20 Jul 2020 00:00:00 +0530 Fri, 07 Jun 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67490 Clarification requires apportionment of unutilized input tax credit in reorganisations by applying the asset-value ratio specified in the demerger scheme; "value of assets" means entire business assets. Apportionment is to be performed at each State registration level, applies to the aggregate ITC (CGST, SGST/UTGST and IGST) and cess, and transfers use the ITC balance on the date of filing Form GST ITC-02. The asset ratio is to be taken as on the appointed date of demerger. Circulars GST - States Mon, 20 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67490