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
\nIf 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.
\nSo i want to ask that, is there any immediate liability of GST on Plant and machinery and Closing Stock imposes on previous firm.
\nPlease guide me on it.
\nReply By YAGAY AND SUN:
\nThe Reply:
\ngoing concern does not attract taxes.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nGST is PAN based. If PAN is same then there is no change liabi<\/p>\n
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