Itc transfer
Jyoti Narang (Kkk) (1203 Points)
21 August 2020
if a firm wants to transfer itc to a New firm what's the procedure of it. n form for it.
Jyoti Narang (Kkk) (1203 Points)
21 August 2020
Jyoti Narang
(Kkk)
(1203 Points)
Replied 21 August 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14536 Points)
Replied 21 August 2020
As per section 18 sub section (3) of the CGST 2017 , you can transfer input Tax credit which remain underutilized in his Electronic credit ledger , when change in the constitution of a registered person in case of transfer of business .
However as per rule 41(2) of the CGST rule 2017 , The transferor shall also submit a copy of a certificate issued by a practicing chartered Accountant certifying transfer of Business has been done with a specific previsions for the transfer liabilities .
please confirm with others also.
Taha
(T)
(405 Points)
Replied 24 August 2020
Jyoti Narang
(Kkk)
(1203 Points)
Replied 26 August 2020
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