banner_ad

Complicated - one proprietor - two different firms - 4 seperate businesses!!!!

VAT (Legacy) 316 views 1 replies

Assessee has two different firms registered. A & B.. 

 

He has 4 seperate businesses. 

 

Three businesses are under one firm...  A

 

One business of government contracts is under the second firm... B

 

Problem - 

 

The second registered firm "B" dealing with government contracts was earlier a partnership but it is now a proprietorship firm... 

 

He wants to merge all 4 businesses under Firm "A" so that he doesn't have to take seperate VAT & Service Tax numbers for the same... 

 

But Firm "B" is an old firm with a lot of goodwill amongst govt clients.. 

 

Hence the assessee doesn't want to bid for govt contracts in the name of "Firm A"..

 

Can he use "Firm B" as a tradename and request for "purchase orders" to be made in the name of "Firm A" and take VAT & Service tax numbers only for "Firm A"??? 

 

But he has to quote Firm name WITH VAT & SERVICE TAX NUMBER even while registering and bidding for government contracts... Hence he cannot quote Firm B which does not have VAT & Service tax number anymore..

 

How to solve this issue??

Replies (1)

"........Hence the assessee doesn't want to bid for govt contracts in the name of "Firm A"..........

Better to wind up firm A, as Firm B has better goodwill.

GST is going to be implemented soon, so from next term better register firm B with GST, and do not migrate firm A to GST.
 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details