hard20 pts · first answer countsgstitc

Unused credit when businesses merge

Company A merges into Company B, with A's liabilities transferred to B. A has ₹40 lakh unused ITC. What happens to it?

A.It lapses because A ceases to existB.It is refunded to A's shareholdersC.B can take it over by filing Form ITC-02D.B can use only half of it

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