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Regarding of partnership to proprietorship
I had GST registration partnership now I want change from partnership to proprietorship in GST. Can be change and possibly?
Replies (7)
No way for change to Proprietorship...
Dissolve partnership and form propritorship with proprietor pan no... In GST it is not possible to conversion bcz gst registration no is pan based... And firm pan no is different
@ Raja Pm from where u r?
But,
I think One way and Advisable for Take Proprietor Registration and Buy/Take Over the Partnership firm...
I think One way and Advisable for Take Proprietor Registration and Buy/Take Over the Partnership firm...
( @ Raja Pm from where u r?)
Pls check in My profile section
Pls check in My profile section
He has to tekn seprate GSTIN of proprietorship
Yes, You can transfer partnership to proprietorship.
Basis Schedule II of the GST act, clause 4 (c) read with its proviso; you will not be liable to pay tax on such transfer.
Also the credit if any from old business can be taken in the new business.
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