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CBIC issues clarification for apportionment of ITC in case of business reorganization

April 17, 2020
In case of demerger, the value of assets for calculation of ratio is to be taken on State level and not at the all India level and Form GST ITC-02 is to be filed in states where transferor and transferee are registered. The ratio of value of assets need not be applied in respect of each head of IGST/CGST/SGST. The ratio of value of assets is to be taken on the appointed date of merger and is to be applied on the date of filing GST ITC-02.
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