GST impact on family enterprises
This query is : Resolved
18 January 2023
I am a properiter of a firm. I am also a partner in a firm with my father, the business of the firm is similar but it is located in a different place. Both firms have seperate GST registration and have been paying their taxes.
My father has written a WILL in which he has bequethed his share of business to me after his demise. In the event of his death the partnership firm will also become my properitery concern.
What will happen to the GSTregistration of partnership firm? As both firms become my properitery concerns will they be clubbed under GST though they are located in two different places?
My father has written a WILL in which he has bequethed his share of business to me after his demise. In the event of his death the partnership firm will also become my properitery concern.
What will happen to the GSTregistration of partnership firm? As both firms become my properitery concerns will they be clubbed under GST though they are located in two different places?
18 January 2023
On the demise of a partner of partnership firm, having only two partners, the firm gets dissolved, so the PAN and GST number gets blocked. The firm gets converted to the proprietorship of the existing partner.
In the above condition both the firms will have same PAN no, as your individual PAN....& the GSTIN.
In the above condition both the firms will have same PAN no, as your individual PAN....& the GSTIN.
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