Tax liability on stock transfer due to change in business constitution
Query (Issue) Started By: – DINESH TIWARI Dated:- 16-4-2018 Last Reply Date:- 8-5-2018 Goods and Services Tax – GST
Got 8 Replies
GST
Sir
If i change a proprietorship business into the partnership business under GST; there is neither change in Place of Business nor any Closing Stock or Plant and Machinery moved from their places.
So i want to ask that, is there any immediate liability of GST on Plant and machinery and Closing Stock imposes on previous firm.
Please guide me on it.
Reply By YAGAY AND SUN:
The Reply:
going concern does not attract taxes.
Reply By Ganeshan Kalyani:
The Reply:
GST is PAN based. If PAN is same then there is no change liabi
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