GST registration status and Balance in ECL in case of merger

[SAFETAB LIFESCIENCE]

Dear Experts,

Please clarify the following points.

1. A partnership firm namely X is taken by a Private Limited Company Y as going concern by taking of business assets and liabilities of X. Both are in different states. After merger/taking over, X will be working in the place where it is already there in the name of X (a unit of Y).

2. What will be GST registration status. What X to do ? To surrender or to amend ?? At what stage this is to be done ??? According to me GST number will be changed and it will be in PAN based of Y.

3. How the closing balance in Electronic ledger can be transferred to buyer's company ledger.

We shall be highly obliged if you could kindly clarify the above please.

AI Summary

Partnership Firm X Must Surrender GSTIN Post-Merger; Unutilized ITC Transfer via FORM GST ITC-02 Required A partnership firm, X, was acquired by a private limited company, Y, with both entities located in different states. Post-merger, X will operate as a unit of Y. Queries were raised regarding the GST registration status and the transfer of the electronic credit ledger (ECL) balance. It was clarified that X must surrender its GSTIN, and Y should register in the state where X operates. The transfer of unutilized input tax credit should be done using FORM GST ITC-02, with details furnished electronically, and a certificate from a chartered accountant confirming the transfer of liabilities is required.