TaxTMI 
TaxTMI 
2025 (9) TMI 1054
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....mited is registered under GST Act 2017 bearing GSTIN 32AABCF1310L1Z7. 2. In this ruling, a reference to the provisions of the CGST Act, Rules and Notifications issued thereunder shall include a reference to the corresponding provisions of the KSGST Act, Rules and the Notifications issued thereunder. 3. The issues on which advance ruling sought are stated above. 4. Contentions of the Applicant 4.1 The applicant is in the business of supplying information technology software services by providing comprehensive cloud solutions combining analytics, AI and market automation. For business reasons, the applicant had merged its business with M/s Mventus Solutions Private Limited and M/s Madmart Services Private Limited. The merger was a....
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....d all the conditions mentioned in Section 18(3), CGST Act 2017 and Rule 41, CGST Rules 2017. The applicant highlights that no restriction on interstate transfer of input tax credit has been envisaged by the said Act or the Rules prescribed in this regard. Accordingly, the balance input tax credit amounting to Rs. 22,29,668/- in the electronic credit ledger of the Haryana GSTIN of M/s Mventus Solutions Private Limited is eligible for credit for the applicant. 4.5 The applicant states that a similar issue was discussed and decided by the Andhra Pradesh Authority for Advance Ruling wherein the Advance Ruling Authority allowed the interstate transfer of unutilized Input Tax Credit. 4.6 The applicant states that, in view of the statutory p....
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....he said unutilised Input Tax Credit in its Kerala GSTIN through the GSTR 3B returns of the applicant and simultaneously reverse such credit using Form DRC-03 in Haryana GSTIN of M/s Mventus Solutions Private Limited. 5. Comments of the Jurisdictional Officer The application was forwarded to the jurisdictional officer as per provisions of Section 98 (1) of the CGST Act. The Jurisdictional officer has not submitted any remarks and hence it is presumed that the jurisdictional officer has no specific comments to offer. It is also construed that no proceedings are pending on the issue against the applicant. 6. Personal hearing The applicant was granted opportunity for personal hearing on 10-09-2024 and a rehearing was conducted on 20....
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....th a request for transfer of unutilized input tax credit lying in his electronic credit ledger to the transferee. The provisions of law does not put any embargo on transfer of ITC when a registered person is subject to change in constitution on account of sale, merger, amalgamation etc. Therefore, we are of the opinion that the applicant is eligible to transfer closing input tax credit balance appearing in the electronic credit ledger of the Haryana GSTIN of M/s Mventus Solutions Private Limited (transferee company) to the applicant's (transferor company) Kerala GSTIN. 7.2 From the submissions, we also find that the ITC proposed to be transferred includes only CGST and IGST and no SGST is involved. Since Haryana State SGST cannot be ....