Heli Shah asked 5 years ago
FORM ITC-02
If the transferor and transferee are in different states then how ITC (SGST) can be transferred through ITC-02?
Answer the question1 Answers
Sunil Harchari answered 5 years ago
Under the provisions of the
CGST Act, a person/ company (having same PAN) is required to obtain
separate registration in different States and each such registration is
considered a distinct person for the purpose of the Act. Accordingly, for
the purpose of apportionment of ITC pursuant to a demerger under sub-
rule (1) of rule 41 of the CGST Rules, the value of assets of the new units
is to be taken at the State level (at the level of distinct person) as per section 18 (3) of CGST Act read with rule 41(1) of CGST Rules.
*Pls refer Circular No. 133/03/2020
