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Regarding query of stock
sir there are two brothers who run their business as sole proprietorship separate. can one brother transfer his stock to another brother.
Replies (3)
Yes.
But it will be treated as supply, even if without consideration.
With consideration: Sec. 7(1)(a)
Without consideration: Sec. 7(1)(c) read with Schedule-I
Supply between related persons made in the course or furtherance of business. Brothers will be related persons under GST, since they are members of the same family.
Is there provision regarding GST payment for this
Yes, the person can transfer his shares to the other person.
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