Conversion from partnership to proprietor

This query is : Resolved

(Querist)
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04 March 2020 A gst registered composite scheme partnership firm conversation 01.04.2020
changed from partnership to proprietor allowed in gst act.

Question:
1. Producure of change from partnership firm to proprietor.
2. Producure of Closing stock value amount treated as on 31.03.2020 in gst act.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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05 March 2020 1. Since GST is PAN based, change of status requires new GSTIN in the name of properietor.
2. Inputs held in stock needs to be reversed.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
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05 March 2020 1. Execute a deed of Dissolution of Partnership and surrender your GST regsitration.
2. Apply for fresh GST registration under the proprietor's PAN
3. Reverse the ITC claimed on the Closing Stock of the PFAS.