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business transfer
My client want to transfer his proprietary business in favour of his son without consideration with assets and liabilities . His business is registered in GST . What procedure adopted by my client and what is position regarding GST on closing stock transfer . Please clarify the position .Thank you in advance . Son is newly registered in GST for bank overdraft facility.
Replies (2)
He can tranfer business by applying cancellation and Filing form ITC 02
while cancellation process it ask reason for cancellation , select therein the "Change in Constitution" next it will ask for GSTN of Tranferee (Son) provide the GSTn & submit the application
for Any ITC balance in ECL to be tramsfer by Filing ITC 02 .
Prepare a Transfer Deed of Business
for Any ITC balance in ECL to be tramsfer by Filing ITC 02 .
Prepare a Transfer Deed of Business
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