GST input Credit transfer - GST ITC 02

Dear all,

1. Is Rule 41 applicable to Slumpsale transaction for transfer of underlying Input tax credit transfer...?

2. If Yes , what would be the basis for transfer of input tax credit from existing company to resultant company...?
Replies (1)

Summary: Rule 41 is applicable to slump sales as they constitute a transfer of business. The transfer is facilitated through Form GST ITC-02, which requires a CA/Cost Accountant’s certificate confirming the transfer of both business assets and liabilities. The transferor files the form, and the transferee must accept it on the GST portal to finalize the credit transfer.

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