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

March 24, 2020
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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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