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Transfer of Unutilized ITC from Existing GST Registration to New GST Registration

GSTN has enabled form ITC-02A by which registered person can transfer the unutilized ITC lying in Electronic Credit Ledger to newly registered place of business within same state or Union Territory Rule 41A of The CGST Rules, 2017 was inserted vide Notification no. 03/2019-CT dt. 29.01.2019 w.e.f. 01.02.2019 which deals with Transfer of credit on obtaining separate registration for multiple places of business within a state or UT: “(1) A registered person who has obtained separate registration for multiple places of business in accordance with the provisions of Rule 11 and who intends to transfer, either wholly or partly, the unutilized input tax credit lying in his electronic credit ledger to any or all of the newly registered places of business, shall furnish within 30 days from obtaining such separate registration, the details in Form GST ITC-02A electronically on the common portal either directly or through facilitation, center notified on this behalf by the commissioner. Provided that the input tax credit shall be transferred to the newly registered entities in the ratio of the value of assets held by them at the time of registration.”  Source: GST portal


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