Bombay HC requests GST Council, GSTN to enable cross-State ITC transfers in mergers

Bombay High Court has urged the GST Council and the GST Network (GSTN) to provide for a regular mechanism for transfer of unutilised Input Tax Credit (ITC) from the electronic credit ledger of a transferor Company to a transferee Company located in another state after merger or amalgamation. “We permit the IGST (Integrated Goods & Services Tax) and CGST (Central Goods & Services Tax) amoun…