Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Gst registration for another business

634 views

Save Share

Prashant Sharma

84 Points Posted on 06 February 2023

client hold gst registration for retail sale and service of computer and spare parts. Gst registration is in proprietorship. Trade name is of computer business according to gumasta. now the proprietor is entering into new food business of coffee house. whether amendment in gst registration for addition of business is sufficient or another gst number required to be registered.
please guide

Replies (7)

Quick Summary

A proprietor with an existing GST registration for a computer business is starting a new coffee house. The discussion explores whether this new venture requires a separate GST number or if it can be added as an additional business to the current registration. Expert advice suggests that adding it as an additional business to the existing registration is possible, especially if the original business is closing. Alternatively, a new registration might be advisable if both businesses are to continue operating independently, given the distinct nature of the food industry.

CA Altamush Zafar

GST Consultant

15986 Points Posted on 06 February 2023

You can add the business in the same registration. You can also add a new trade name in the current registration also

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 06 February 2023

You can add this business as additional business in your existing registration. (Suggested in case existing business closed).

Also , you can apply for new registration also because the nature of business is completely distinct. ( Suggested in case of continuation of both business)

MPR Sanjay Kumar

3145 Points Posted on 06 February 2023

@ honourable Rashmi Gandhi mam ,as per Accounting and finance concept whatever ends having closing balance that is the opening balance of next year it's very clear for me...

... for an example if I am having opening stock rupees 10 lakh my purchases is 3 lakh and my sales is 4 lakh so the closing stock will be 9 lakh this is correct assumption

some people's making Trading account closing stock is more than opening stock.. this is correct manner???

could you please guide me the opening stock closing stock as per Accounting how we should have to show in final accounts