CANCELLATION OF REGISTRATION UNDER GST & STOCK TRANSFER

Dear sir,

I am here to clear a doubt about the stock transfer while cancellation of registration.My friend would like to cancel registration and to start a new one with same Pan card number but with different registration.

There is a lot of stock in the existing business and corresponding  input credit on the portal as well.

My question is can we transfer the same credit and stock to the new one which may be registered soon and if it is yes pls advise the necessary steps we have to take on website.

Thanks and Regards

Shyamlal.K

 

Replies (1)

As per the GST provisions, if any registered person ceases to be liable to pay tax, the goods lying in stock are deemed to have been supplied by him therefore GST is required to be paid on goods lying in stock. 

Only exception is when business is transferred on going concern basis.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details