https://www.taxtmi.com/circulars?id=71469 Input tax credit transferred in a business reorganisation is apportioned according to the value of assets transferred with liabilities. For demergers, asset values are determined at the State level for each distinct registration and as on the appointed date in the demerger scheme. The resulting ratio applies to the aggregate unutilized credit balance in the electronic credit ledger on the date FORM GST ITC-02 is filed. Aggregate transferable credit may be allocated across available tax heads, subject to the overall apportioned amount and balances under each head. en-us Mon, 06 Apr 2020 00:00:00 +0530 Mon, 28 Sep 2026 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71469 Input tax credit transferred in a business reorganisation is apportioned according to the value of assets transferred with liabilities. For demergers, asset values are determined at the State level for each distinct registration and as on the appointed date in the demerger scheme. The resulting ratio applies to the aggregate unutilized credit balance in the electronic credit ledger on the date FORM GST ITC-02 is filed. Aggregate transferable credit may be allocated across available tax heads, subject to the overall apportioned amount and balances under each head. Circulars GST - States Mon, 06 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71469