vishnu kumar 23 February 2020
Due to severe illness, my father is not able to continue his business. I have taken new gst number and filed itc 02 as suggested by accountant. My father s cgst credit ledger is showing rs 4000 . But its not getting transfer to my new gst number. How to do it ?
There is stock of more than 1 cr in my father s firm. How to transfer stock to my gst number ? is there anything else other than itc 02 ? Pls suggest.
Thanks a lot.
Pankaj Rawat (GST Practitioner) 23 February 2020
Need to file cancellation for Father's GSTN & while filing cancellation , ask for reason for cancellation , provide " change in" constitutional change" then it will ask for transferee (Son) GSTN , provide the same therein.
As per Entry No. 2 of Notification 12/2017 CT , transfer business is Exempted bin GST.
Hence can prepare transfer Deed agreement & can transfer the asset liability of Father's form to Sons.
For more details kindly refer Circular 96/15/2019-GST