Transfer of business
This query is : Resolved
16 May 2020
A son has continued the business of his father after his death.Now son has obtained another GSTIN.No credit is available in the credit ledger of the father's GSTIN.How the stock of father's business will be transferred to the son's GSTIN.Shall tax invoice will be generated for such transfer or it is exempted as per NN no.12/2017 CT(rate) DT.28.6.17?
17 May 2020
See the link for such tranfer.
https://www.google.com/amp/s/www.thehindubusinessline.com/economy/gst-authority-clarifies-on-changetransfer-in-ownership-of-sole-proprietorship/article26666133.ece/amp/
https://www.google.com/amp/s/www.thehindubusinessline.com/economy/gst-authority-clarifies-on-changetransfer-in-ownership-of-sole-proprietorship/article26666133.ece/amp/
17 May 2020
ITC 02 is filed for transfer of unutilized ITC. How the stock will be transferred?
17 May 2020
you need to cancel the registration by choosing option death of father and business transfer to son. automatically, old registration get cancelled and transfer all assets liabilities in the new firm
17 May 2020
C.bakshi ji stock will automatically transferred? No invoice required but as per schedule I,transfer of business without consideration is supply.
17 May 2020
file cancellation of GSTIN of Fathers. and filed the ITC-02 of all the assets and inputs in stock, since it is the service of trasnsfer of bussion or going concern, but exmpted under noti.no. 12/2017- Central tax rate S.No.2
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