Wants to sale proprietorship firm

Convert the proprietorship firm into a Partnership firm, firstly, it is required to incorporate a partnership firm and then arrange for PAN.Once PAN of partnership firm received, apply for registration under GST. Once GST number successfully generated, it is required to open a current account of the firm. After this, complete the process of seeding such Bank account details to GST registration.

Now finally, in proprietary firm, file all GST Returns and pay pending taxes.

Once all tax dues paid off, apply for cancellation of GST number giving reasons as ‘Change in legal Structure of firm’. It will also ask to enter GST number of new Partnership firm.

After this, transfer all assets and liabilities into partnership firm as sale of business by proprietor to partnership firm. Under GST laws, it has been provided that in case of such conversion, there is no need to pay GST on such transfer of assets from one entity to another.

We are looking for any 3 or more years old CA firm for purchase purpose. Any reference or contact details is appreciated

Read more at: https://www.caclubindia.com/forum/query-for-availability-of-ca-firm-for-sale-554144.asp