Conversation of proprietorship into partnership and its impact on stock transfer under GST

Stock can be transferred from propritership to firm only through sale. I don't think there is another alternative for doing such tranfer.

In GST it's supply & GST is applicable.

Yes if the proprietorship busimess cease it's business whole can be transfer his stock to partnership firm by filing ITC 02 .

In conjoint reading of Schedule II Serial No. 4(C,) along with Sl.no.2 of the Notification No.12/2017-Central Tax (Rate) dated 28.06.2017, Transfer of business as an on going concern is a Supply of Service and is NIL rated.

For more details in this regard to transfer the stock plz refer Circular 96/15/2019

Since Mr X do not have ITC therefore ITC 02 is not required to be filed.

Form ITC 02 is for transfer of ITC.

You transfer the goods by issuing the invoice without charging the GST by availing the exemption as per

Sl.no.2 of the exemption Notification No.12/2017-Central Tax (Rate) dated 28.06.2017

as described by Mr Pankaj.
 

Since Mr X do not have ITC therefore ITC 02 is not required to be filed.

Form ITC 02 is for transfer of ITC.

You transfer the goods by issuing the invoice without charging the GST by availing the exemption as per

Sl.no.2 of the exemption Notification No.12/2017-Central Tax (Rate) dated 28.06.2017

as described by Mr Pankaj.
 

Anilji ,

Notification 12/2017 says " service by way of transfer of a going concern, as a whole or an independant part thereof is charged at NIL rate in GST "

In this case GSTIN is change as it is different for idividual and partnership firm. Will it term as going concern and eligible for exemption under notification 12/2017 ?

whenever one merge with other 

or

amalgamate

or

partnership converted to Private company

always

a new entity emerges 

and a new GSTN is required always on change in constitution.