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Gift of trade stock to son


Sir,
Business it Assess gift of trade stock (business stocks)to son allowed.if allowed what value at cost or fmv value.

You can gift and value to be considered. at cost. If registered under GST, don't forgot to reverse ITC of such assets.

In your case, stock has to be transferred to your son's books and itc has to be transferred under gst.
Transfer stock at current price.



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