Asset Valuation in Demerger Must Include Non-GST Assets for Input Tax Credit Apportionment per CGST Act Sec 18(3), Rule 41(1).

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....Valuation - De-merger - transfer of MIS business to a resulting company - The value of assets which are outside the purview of GST is required to be included in the value of assets for apportionment towards transfer of input tax credit in case of demerger in terms of Section 18(3) of CGST Act, 2017 read with Rule 41(1) of CGST Rules, 2017. - AAR....