GST on sales of a running stores ( bussiness)

145 views
User Avatar

5 Points Posted on 01 March 2021
I have a Subway stores ( food business) , is Gst applicable if I sale the stores and if yes what is the rate of Gst ?
0 Reply Share Follow
On 01 March 2021 at 19:56 Report
Replies (2)
Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable when selling a running business, specifically a Subway store. It confirms that GST is indeed relevant to the sale of the business itself, not just its ongoing sales. Registration for GST becomes mandatory if the business turnover has exceeded 40 lakhs.

User Avatar

Chartered Accountant
24588 Points Posted on 01 March 2021
If turnover crossed 40 lakhs then gst registration is required
Reply
On 01 March 2021 at 20:49
User Avatar

5 Points Posted on 01 March 2021
Not the sales, but sale of the stores ( business)
Reply
On 01 March 2021 at 20:52

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS on under construction property not deducted
  2. GST on Fixed Assets
  3. GST ITC april 22
  4. GST PAYMENT REGARDING
  5. GST Consultation Required – June–Augus
  6. TDS Code for Salary Payment to Non-Resident Intern
  7. TDS on property
  8. Company data for software
  9. Car purchase to be eligible for ITC
  10. GST Refund on payment to builder

More recent discussions | Post

Related Topics :

Loading