AAR: Allows unutilized ITC transfer upon ‘Transfer of Business as going concern’ upon filing GST ITC-02

Andhra Pradesh AAR rules the activity of ‘transfer of going concern’ by the applicant as ‘supply of services’ and allows transferring of the unutilized ITC to the transferee by filing return GST ITC-02; Applicant (Andhra Pradesh unit) as a whole along with the capital assets is being transferred as going concern to its Karnataka unit for a monetary consideration; Observes that said transaction is activity of the 'transfer' made for consideration, but it is neither in ...