Sell of good from partnership

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Ashim kr Ray (Querist)
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21 May 2020 Sir,
I have close my partnership firm in the month of mar 2020, and open proprietorship business and returns of IT and gst is pending of partnership firm.
Here i want to know, the stock which i have in partnership firm, can be shown sold to my new business in this month.

Please suggest its very important.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 May 2020 Yes the stock can be shown as sold to new business in current month.

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Ashim kr Ray

Ashim kr Ray (Querist)
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21 May 2020 Thank you sir, but one thing, as stock sold shown in this may month, then i have again to submitted gst return for this may month of partnership firm and again i have to prepare Income tax filed for FY 20-21.That mean i cannot closed my partnership firm in March 20. Am i right Sir??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 May 2020 Yes you are right.............

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