Chapter - V of CGST Rules, 2019
INPUT TAX CREDIT
1[Rule 41A. Transfer of credit on obtaining separate registration for multiple places of business within a State or Union territory (corresponding section 18)
(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 unutilised input tax credit lying in his electronic credit
ledger to any or all of the newly registered place of business, shall furnish
within a period of thirty days from obtaining such separate registrations, the
details in FORM GST ITC-02A electronically on the common portal, either directly
or through a Facilitation Centre notified in this behalf by the Commissioner:
Provided that the input tax credit shall be transferred to the newly registered
entities in the ratio of the 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 assets' means the value of the entire assets of the
business
2(17)
“business” includes––
(a) any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity, whether or not it is for a pecuniary benefit;
(b) any activity or transaction in connection with or incidental or ancillary to sub-clause (a);
(c) any activity or transaction in the nature of sub-clause (a), whether or not there is volume, frequency, continuity or regularity of such transaction;
(d) supply or acquisition of goods including capital goods and services in connection with commencement or closure of business;
(e) provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members;
(f) admission, for a consideration, of persons to any premises;
(g) services supplied by a person as the holder of an office which has been accepted by him in the course or furtherance of his trade, profession or vocation;
(h) activities of a race club including by way of totalisator or a license to book maker or activities of a licensed book maker in such club; and
(i) any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities;
whether or not input tax credit has been availed thereon.
(2) The newly registered person (transferee) shall, on the common portal, accept
the details so furnished by the registered person (transferor) and, upon such
acceptance, the unutilised input tax credit specified in
FORM GST ITC-02A shall be credited to his electronic credit ledger.]
1. Inserted Vide :- Notification No. 3/2019-Central Tax Dt.29.01.2019 [Para 7]