Hi,
Please Let me know the procedure for transfer of proprietory business from father to his son due to ill health of father.
and what will be sales tax staus whether son is required to obtain new TIN no or he can carry business with existing TIN .
indeed what would be treatment of Input Tax credit stood in the books of Father whther it can be transfered to new business or sales tax authorities will grant refund for tax credit lying in the books.
Please reply its urgent
thanks in Advance
Yes pleae contact your sales tax consultant. In case of proprietary concrns the successor of the business has to take a new VAt TIN number & the father would be required to surrender his VAT TIN.
Regards the input VAt credit, this will get transferred to the new proprietary concern
hello sir i m the student of l.l.b final year and my practice is continue in tax consultant filed last 6month i want to about how to get salestax ptractisone number in gujarat.
which form fillup and what is prosidur.
will you pls help sir.
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