https://www.taxtmi.com/forum/issue?id=120499 Transfer of a business as a going concern is an exempt supply that triggers proportionate reversal of common input tax credit in the tax period when the exempt transfer occurs. The reversal base for that period includes the total common ITC pool available then, comprising unutilised carried-forward credits and current-period credits; the standard proportionate allocation between taxable and exempt turnover determines the amount to be reversed. Recoverability of prior-period credits depends on their availability, transfer via ITC-02, and limitation or assessment status. en-us Fri, 26 Sep 2025 14:33:47 +0530 Sun, 28 Sep 2025 22:52:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120499 Transfer of a business as a going concern is an exempt supply that triggers proportionate reversal of common input tax credit in the tax period when the exempt transfer occurs. The reversal base for that period includes the total common ITC pool available then, comprising unutilised carried-forward credits and current-period credits; the standard proportionate allocation between taxable and exempt turnover determines the amount to be reversed. Recoverability of prior-period credits depends on their availability, transfer via ITC-02, and limitation or assessment status. Discussion-Forum GST Fri, 26 Sep 2025 14:33:47 +0530 https://www.taxtmi.com/forum/issue?id=120499