Community Insights

Topic

Publish Date

Application of GST on Transfer of Business

To expand the business it can be seen that the entity usually transfers their business as a going concern like the conversion of proprietorship into partnership or conversion of partnership into the company or merger, demerger, amalgamation etc. In case of transfer of an existing business there are many questions that comes into the mind such as (1) Whether such conversion would be taxable ? (2) What would happen to unutilized ITC of proprietorship ..... Read More

03.06.2024

CIRCULARS

Sr. No.

Circular No.

Subject

1.

Circular No.133 03/2020-GST dt. 23.03.2020 Seeks to clarify issues in respect of apportionment of input tax credit (ITC) in cases of business reorganization under section 18 (3) of CGST Act read with rule 41(1) of CGST Rules

2.

Circular No. 96/15/2019-GST dt. 28.03.2019

Clarification in respect of transfer of input tax credit in case of death of sole proprietor