CGST Rules – Central Goods and Services Tax Rules, 2017

Rule 41A – Transfer of credit on obtaining separate registration for multiple places of business within a State or Union territory.-

This rule was made and amended vide the following notifications
• Central Tax Notification No. 03/2019 (dated 29th January 2019)

(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
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.