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 Threads
- Transfer of solepropretorship
- Tax on Director Salary
- TDS ON FOREIGN TOUR ??
- How Omnij Empire Group Helps Investors Avoid Commo
- Query on TDS deduction
- Sale of shares in indian company
- Eway bill with 4 parties
- TDS TCS communication for file NIL Declaration.
- Liable for ITR filing
- 27EQ return without PAN
Related Threads
CAclubindia
