I have private limited company, which i want to close. Since business discontinuing i want to cancel registration under GST.
I have stock in business on which i have availed credit under previous law
whether i need to pay. If yes
i can sell those stock to my other company at nominal amount like 100 rs. etc.
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GST Cancellation/Surrender
Replies (2)
Yes u can do so but advisable to sell it on Ur cost
If you sell it at nominal value, you might be saved under GST but IT Act might impose certain consequences.
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