Merger of a proprietorship into a private limited company
This query is : Resolved
16 June 2012
Please let me know if a proprietorship is taken over by an existing Private limited company then VAT registration of the firm will be used or VAT registration of Private limited company will be used after the process of merger
16 June 2012
Hi
No not possible.
as per VAT act if the status of the business changed then you need to take anew registration.
Hence surrender the old TIN of prop
and apply for new reg
No not possible.
as per VAT act if the status of the business changed then you need to take anew registration.
Hence surrender the old TIN of prop
and apply for new reg
16 June 2012
Mr Roopal Sirohiya,
The proprietorship sold out to the Pvt ltd co and it is over. The proprietorship firm has to declare its sale to another co by filing an application to the VAT department and ask for cacellation of RC.The agreement showing details of transferring stock(with value classified into vat rates and assets),arrears,refunds due etc,which are necessary for the buyer and also seller. The prop firm to surrender unused statutory forms and RC.No furhter regn is required for the Pvt ltd firm....MJK
The proprietorship sold out to the Pvt ltd co and it is over. The proprietorship firm has to declare its sale to another co by filing an application to the VAT department and ask for cacellation of RC.The agreement showing details of transferring stock(with value classified into vat rates and assets),arrears,refunds due etc,which are necessary for the buyer and also seller. The prop firm to surrender unused statutory forms and RC.No furhter regn is required for the Pvt ltd firm....MJK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
