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accountant
189 Points Joined May 2017

Sir, 

I have transferred my partnership to Private Limited Company.

I have taken NEW GST number for Private Limited Company & cancelled GST number of partnership firm and same the approve by department.

My Question is

1. can i required to filed ITC -02 if there is no ITC balance in Electronic Credit Ledger 

2.Can I Filed ITC Transfer from after cancelled the GST number?

3. 4. After Cancelled the partnership firm registration we want to file final GST return -10. If there is WIP stock than it’s required to show in GSTR -10 & where we want to show?

Please give the solution 

 

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On 10 June 2021 at 16:52 Report
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GST Consultant
15986 Points Joined March 2013

In the correct sense you should have transferred your business as a going concern.

If there was ITC the same should have been transferred before cancellation.

If stock is not transferred then legally the transaction of transferring a business will get taxable under GST

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On 10 June 2021 at 18:38
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Chartered Accountant in Practice
1260 Points Joined June 2019

ITC-02 is not required to be filed if there is no ITC.

ITC-02 cannot be filed after cancelling registration, however in this case, you are not required to file ITC-02.

Yes, GSTR-10 has to be filed within 3 months from the date of cancellation. You will have to disclose the details of stock while filing GSTR-10.

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On 12 June 2021 at 12:51


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