Goods and Services Tax

Tax liability on stock transfer due to change in business constitution

Goods and Services Tax – Started By: – DINESH TIWARI – Dated:- 16-4-2018 Last Replied Date:- 8-5-2018 – SirIf 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 liability . – Reply By KASTURI SETHI – The Reply = Change of proprietorship into partnership mean a new entity and afres

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