Merger of a proprietorship into a private limited company
This query is : Resolved
16 June 2012
Please let me know if a proprietorship is taken over by an existing Private limited company then VAT registration of the firm will be used or VAT registration of Private limited company will be used after the process of merger
16 June 2012
Hi
No not possible.
as per VAT act if the status of the business changed then you need to take anew registration.
Hence surrender the old TIN of prop
and apply for new reg
No not possible.
as per VAT act if the status of the business changed then you need to take anew registration.
Hence surrender the old TIN of prop
and apply for new reg
16 June 2012
Mr Roopal Sirohiya,
The proprietorship sold out to the Pvt ltd co and it is over. The proprietorship firm has to declare its sale to another co by filing an application to the VAT department and ask for cacellation of RC.The agreement showing details of transferring stock(with value classified into vat rates and assets),arrears,refunds due etc,which are necessary for the buyer and also seller. The prop firm to surrender unused statutory forms and RC.No furhter regn is required for the Pvt ltd firm....MJK
The proprietorship sold out to the Pvt ltd co and it is over. The proprietorship firm has to declare its sale to another co by filing an application to the VAT department and ask for cacellation of RC.The agreement showing details of transferring stock(with value classified into vat rates and assets),arrears,refunds due etc,which are necessary for the buyer and also seller. The prop firm to surrender unused statutory forms and RC.No furhter regn is required for the Pvt ltd firm....MJK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
