https://www.taxtmi.com/circulars?id=71110 In a demerger, input tax credit is apportioned by the ratio of assets transferred to the assets of the relevant State-level unit, with all business assets included in asset value. The formula applies to aggregate unutilised credit, including central tax, State or Union territory tax, integrated tax and cess, and also extends to partial business transfers with liabilities. The asset ratio is determined on the appointed date of demerger and applied to the electronic credit ledger balance on the date FORM GST ITC-02 is filed. en-us Mon, 22 Jun 2020 00:00:00 +0530 Wed, 02 Sep 2026 12:16:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71110 In a demerger, input tax credit is apportioned by the ratio of assets transferred to the assets of the relevant State-level unit, with all business assets included in asset value. The formula applies to aggregate unutilised credit, including central tax, State or Union territory tax, integrated tax and cess, and also extends to partial business transfers with liabilities. The asset ratio is determined on the appointed date of demerger and applied to the electronic credit ledger balance on the date FORM GST ITC-02 is filed. Circulars GST - States Mon, 22 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71110