Stock transfer between two composition suppliers

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Muhammed Shuhaib K (Querist)
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07 January 2024 Can you please suggest which GSTR form allows us to transfer stock from one GSTIN to another. Both parties are composition dealers

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 January 2024 Stock transfer not allowed. Treat it as sale issue composition sale bill.

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Muhammed Shuhaib K

Muhammed Shuhaib K (Querist)
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07 January 2024 Here taxpayer wants to change the ownership to his father. So there is no supply of goods taken place. Still the taxpayer liable to pay tax on it

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RAJA P M

RAJA P M (Expert)
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08 January 2024 Yes I agreed with Mr CA R Seetharaman Sir. It's not possible to transfer goods from one GSTIN to another GSTIN except sale procedure.

RAJA P M

RAJA P M (Expert)
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08 January 2024 In case the ownership changed or Take over then GSTIN will change as per new owner (father). after that they make transfer like same GSTIN. (Note : The transfer can be made only intra state not for Inter state).

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 January 2024 No GST payable in case of ownership change.