MrX and Mr Y are brothers running proprietorship business separately.
both are unregistered.
now they want to merge their proprietorship business and wants to get a fresh registration under gst as a partnership firm.
what is the procedure for conversion in to partnership firm and what points should be considered in this regard.
3 Replies
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 09 June 2017
make a partnership deed...
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 09 June 2017
if asset transfer without consideration then it will be treated as capital...
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 09 June 2017
Make Partnership deed with above details and register under Partnership act. After that take GST Registration once turnover crosses 20lakhs
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