Menu
Transfer of solepropretorship
My septugenerian friend wishes to transfer his textile soleproprietorship shop to his son. Will this attract Gst for the entire inventory? Or is it possible to expand the constitution to a partnership firm including the son, retaining a small share for himself and exiting later on, as per an exit/ retirement clause, without atttracting gst?
Replies (1)
-
Direct transfer → ❌ GST applicable on inventory
-
Transfer as going concern → ✅ GST exempt
-
Partnership route + retirement → ✅ Most practical & safe (no GST if structured properly)
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
