Transfer of business assets

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361 Points Posted on 15 January 2020
my client is conducted business in proprietor ship. he trf his business to his son.whether liable to gst
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On 15 January 2020 at 17:13 Report
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This discussion explores the GST implications when a business owner transfers their assets to their son. While generally GST is applicable on such transfers, there's a differing professional opinion suggesting it might be nil-rated. This is based on specific GST schedules and notifications concerning the supply of services.

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"Do the Right Thing...!!!"
128162 Points Posted on 15 January 2020
Yes... GST applicable.

Transfers not available in GST from one gstin to another GSTIN
..
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On 15 January 2020 at 17:57
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361 Points Posted on 15 January 2020
But as per some professional not liable to gst
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On 15 January 2020 at 19:14
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GST Practitioner
55067 Points Posted on 16 January 2020
On conjoint reading of S.no.4(c) of schedule 2 & s.no.2 of Notification 12/2017 CT (r) , it's Nil rated supply of services.
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On 16 January 2020 at 00:57

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