TRANSFER OF PROPERTERSHIP INTO PARTNERSHIP
This query is : Open
20 November 2021
Dear All,
What are the GST implication on transfer of business from proprietorship into partnership firm?
Is GST payable on Stock or other assets transferred in such a case?
Thanks & Regards
Nirmal Dave
What are the GST implication on transfer of business from proprietorship into partnership firm?
Is GST payable on Stock or other assets transferred in such a case?
Thanks & Regards
Nirmal Dave
20 November 2021
If it is a complete transfer of business then it should be supporting by an agreement of transfer of business. There is no GST on complete transfer. If complete transfer is not doe then GST will be applicable.
On complete transfer of business ITC in portal can also be transferred to new GSTIN through ITC-02
On complete transfer of business ITC in portal can also be transferred to new GSTIN through ITC-02
21 November 2021
Thank You for your valuable reply.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- GST ON DAMAGED GOODS
- Last year TDS Claim
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Suggestions required for income tax filing-software (FY 2025-26)
- E way bill for tractors
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
