GST ITC-02A is a declaration of untilized ITC transferred for obtaining a separate registration within the same state or union territory.
(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 untilized 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 a 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 value of assets held by them at the time of registration.
Explanation– For the purposes of this sub rule,it is hereby clarified that the value of asset means the value of entire assets of the business whether or not input tax credit has been availed thereon.
(2) Newly registered person (Transferee) shall on the common portal, accept the details so furnish ed by the registered person ( Transferor) and upon such acceptance the untilized input tax credit specified in Form GST ITC-02A shall be credited in his electronic credit ledger.
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