A is running prop firm and having stock of Rs 20 lacs and also debtors creditors. Now A and B has decided to convert this business to partnership. GST number has been taken for new firm also.
Now should they make a single Tax invoice from Prop firm to sale the stock to partnership firm or any other process to follow to migrate the business to partnership firm.
Plz guide Respected Experts...
1 Replies
Kishor Lulla
(993 Points)
Replied 28 June 2024
Make a business tra agreement betw a and ab. no tax to be paid. after merging a into an, cancel a gst number. transfer credit ledger gst from a to ab.
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