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
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