A PERSON want to trf HIS running business to his elder son name firm is already registered in father PAN GST .
how to proceed for gst registration
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Gst registration trf of business
Replies (4)
GTS is a PAN based registration.
The PAN of son will be different than that of father.
So you have to apply for fresh GST registration for the son.
Apply for new registration with son name mentioning Transfer of business details. Also transfer ITC through ITC -02 once the new GST registration issued.
Running business is not gift by father to son , it is sale by father to son
Same thing to be done in case of sale, while you close existing license you need to select option transfer by way of sale, amalgamation or merger etc
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