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Conversion of Propritership into Partnership Firm

This query is : Resolved 
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(Querist)
29 August 2009 There is one sole Propritership which is being converted into partnership there was some stock in hand at the time of conversion what is the treatment of stock
will it attract Vat,or it will be regarded as Introduction of capital
CAN U PLEASE GIVE ME SOME REFERENCE OF SECTION
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CP Ram

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CP Ram (Expert)
30 August 2009 Stock will be regarded as capital introduction and vat will not be applicable.
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