What is the purpose of Form GST ITC-02A?

As per Section 25(2) of the act:

• • A person seeking registration shall be granted a single registration in a State or Union territory. It is to be noted that a person having multiple places of business in a State or Union territory may be granted a separate registration for each such place of business, subject to such conditions as may be prescribed.

As per Rule 41-A of the Central Goods & Services Tax Rules, 2017

• • 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 unutilized input tax credit lying in his electronic credit ledger to any or all of the newly registered place of business shall file under GST ITC-02A.
  • The registered person 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.
  • 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.
  • Note: The value of assets means the value of the entire assets of the business whether or not input tax credit has been availed thereon.
  • 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.