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Transfer of assets by partner to its firm

This query is : Resolved 
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(Querist)
19 December 2022 Can a Proprietor having an active GST number having business activity of Mfg, enters into a partnership firm having GST No. transfer the Plant & machinery of the Proprietory business to the Firm as transfer as his share of capital contribution in the new firm.

So can this transfer be done ?
Does this transfer attracts GST ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 December 2022 Yes, this Tranfer be done.
GST not applicable being business take over.
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