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Valuation of assets for apportionment of ITC

Karnataka AAR has held that for calculating asset ratio for purpose of apportionment of ITC in case of demerger, “value of assets” as per the explanation to the sub-rule (1) of Rule 41 of the CGST Rules means the value of the entire assets of the business, whether or not input tax credit has been availed or not

M/s IBM India Pvt. Ltd.

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