Transfer stock, assets

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how to transfer stock and assets partnership to proprietorship

Gst implications on above transaction
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Since it is covered under the definition of supply, GST shall be applicable to it. You can transfer the stock and asset in the same way as to transfer to any other person in the ordinary course of business by raising sales invoice and charging GST at the applicable rates in it. Proprietor shall consider such transfer as inward supply and would be eligible to claim ITC, if such proprietor is registered normally under GST.


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