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Transfer of business

yash (accountant) (519 Points)

03 April 2020

partnership firm transferring business to proprietor ship and partnership firm is Registered under composition scheme. what is the procedure under GST.as PAN is changing.

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4 Replies

Spurto Consultancy Services (Consultant) (1891 Points)
Replied 03 April 2020

You have to apply for new registration of the proprietorship business.

The new gst registration will be on the PAN of the proprietor.

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 04 April 2020

Need to Obtain GST registration for Proprietor firm .

During the Registration process need to provide Reason (merge) & GSTN of Partnership.
And while surrendering the GSTN of Partnership Firm need to Give reason for cancellation of Registration by selecting the "Change in Constitution" thereafter provide the GSTN of Proprietor firm.

Do Prepare a transfer business Deed .