https://www.taxtmi.com/circulars?id=71653 Unutilised input tax credit may be transferred through FORM GST ITC-02 on business reorganisation involving transfer of liabilities. In a demerger or other partial transfer of business assets with liabilities, credit is apportioned using the asset-value ratio at the State level for each distinct registration. The ratio applies to aggregate CGST, TNGST or UTGST, IGST credit and cess, with allocation among tax heads limited by available balances. The ratio is determined on the appointed date of demerger and applied to the electronic credit ledger balance on the ITC-02 filing date. en-us Sat, 23 May 2020 00:00:00 +0530 Wed, 21 Oct 2026 15:15:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71653 Unutilised input tax credit may be transferred through FORM GST ITC-02 on business reorganisation involving transfer of liabilities. In a demerger or other partial transfer of business assets with liabilities, credit is apportioned using the asset-value ratio at the State level for each distinct registration. The ratio applies to aggregate CGST, TNGST or UTGST, IGST credit and cess, with allocation among tax heads limited by available balances. The ratio is determined on the appointed date of demerger and applied to the electronic credit ledger balance on the ITC-02 filing date. Circulars GST - States Sat, 23 May 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71653