Section 17(11) in Gujarat Value Added Tax Rules, 2006
(11)Where a dealer liable to pay tax under the Act transfers his business in whole or part as provided in section 51, the transferee of the business may claim the tax credit in the manner as under:-(i)in case where business has been transferred in whole, then the amount of balance of tax credit on the day of such transfer shall be deemed to be transferred to the transferee subject to the provisions of section 11 and the rules made there under,(ii)in case where business has been transferred in part, then the balance of the tax credit as admissible under the rules on the day of transfer shall be deemed to be transferred to the transferee subject to the provisions of section 11 and the rules made there under:Provided that the transferor shall reduce such amount of tax credit transferred to the transferee under this clause in the tax period in which such transfer has taken place.
