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Stock transfer on shifting business

This query is : Resolved 

What is the process of transfering stock ( machinery ) in case of shifting of business is different state as I already taken GST registration of that state , happy if someone answer with clause or any specific notification .


Thanks


As per Sec 25(4) of CGST Act-

A person who has obtained or is required to obtain more than one registration, whether in one State or Union territory or more than one State or Union territory shall, in respect of each such registration, be treated as distinct persons for the purposes of this Act.

Now, as per Paragraph 2 of Schedule I, supply of goods or services or both between distinct person is to be treated as supply even if made without consideration.

MEANS SIR TAX LIABILITY ARISES ON TRANSFER OF BUSINESS ?

Yes claim ITC on tax payment


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