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Discontinuation of business under gst

Ankit chaturvedi (CA in Practice) (241 Points)

03 March 2020

my client having business of manufacturing of copper bottle under partnership. he wants to close the same under partnership and wants to continue the same under proprietorship. what actions shall I take? please guide me

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3 Replies

MOHIT JOSHI (229 Points)
Replied 04 March 2020

Make fresh reg application. no GST will be paid on closing stock

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 04 March 2020

Need obtain Registration under Proprietary firm & then can transfer the business from partnership to Proprietary firm (With any GST Liability , refer Notification 12/2017 CT (r))

Note : While Registration process of proprietary firm provide the GSTN of partnership firm (to transfer business). & while cancellation of Partnership firm provide the reason of cancellation "change in constitution" & mentioned therein the GSTN of Proprietary firm.

Any credit lying in Partnership firm credit ledger can also be transfer to propritory firm by filing ITC 02

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