Master TDS & TCS Provisions with Critical Issues. Register Now!

ITC transfer from old firm

Vikas Sharma (51 Points)

11 April 2019

all ready new registration number applied after death of proprietor.

how can itc transfer to new firm

Reply
Follow
Share

8 Replies

CA Ankit Garg (MD | Genuine Filings) (781 Points)
Replied 11 April 2019

File ITC-02 in pursuance of Rule 41 of CGST Rules 2017

Upgrade to CAclubindia Pro. Subscribe Now!

shailendra shukla (Bhopal) (1741 Points)
Replied 11 April 2019

The first thing which i think you need to do is to change the authorised signatory...... by submitting the documents evidencing yourself to be legal hier and then you should proceed to file ITC-02 and after successfully transfering the itc you should apply for cancellation.... the reason being the prop. is no more, how can we tranfer the itc with his authorisation..........
I might be making things complicated but i think this is something that should ideally be done........
waiting for responses from our experts......

CA Ankit Garg (MD | Genuine Filings) (781 Points)
Replied 11 April 2019

Yes, Mr. Shailendra is right, it's obvious thing to change the authorized signatory to proceed further.

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 12 April 2019

While Registration process there you can provide GSTN of Proprietorship to be transfer & while Cancellation of Proprietary Firm GSTN , provide the GSTN of new Firm.

File ITC 02 from Proprietary Firm , & Accept the same in New Firm

Vikas Sharma (51 Points)
Replied 12 April 2019

if new firm proprietor is grand son.

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 14 April 2019

So what ......the New Registration is be obtained by his grand son to transfer the Proprietary business into his new GSTN

Vikas Sharma (51 Points)
Replied 14 April 2019

yes

smnti jain (39 Points)
Replied 16 April 2019

Originally posted by : shailendra shukla
	The first thing which i think you need to do is to change the authorised signatory...... by submitting the documents evidencing yourself to be legal hier and then you should proceed to file ITC-02 and after successfully transfering the itc you should apply for cancellation.... the reason being the prop. is no more, how can we tranfer the itc with his authorisation..........I might be making things complicated but i think this is something that should ideally be done........waiting for responses from our experts......