MSME Certified Income Tax Live Batch to commence from 21st January 2022. Limited Seats. Register Now!!


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

GST on Stock Available of Deceased Prop. to Transferee

This query is : Resolved 

25 September 2019 My father was a prop. of a firm and he died on 23-03-2019 due to sudden heart failure. I registered my self as a successor prop. of the said firm. Now department is asking to pay tax on Stock available on 31-03-2019. I said to department that it is transfer of ownership and my father had not sold the goods to me. And I am regularly doing the business in said firm as present prop. and using same stock to manufacturing the goods.

However, the GST department contented that you should support your explanations etc. with some rules and regulations of GST. So, that we can believe that you are correct and we are not. Kindly help me in this matter. Thanks in Advance.

26 September 2019 Transfer of Stock is not a supply as per Schedule II.
. Further Services by way of transfer of a going concern, as a whole or an independent part thereof. is a Exempt supply as per Notification No. 12/2017..

Following article is relevant to understand the GST provisions in this case.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries