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