https://www.taxtmi.com/caselaws?id=375453 The Authority ruled in favor of the applicant, stating that the merger of a proprietorship firm with a private limited company did not attract tax liability under the CGST/SGST Act. The transfer of input tax credit from the proprietorship firm to the private limited company post-merger was permissible under Section 18(3) of the CGST Act and Rule 41 of CGST Rules. The Authority emphasized that the transfer of unutilized input tax credit was allowed in case of a merger, supported by relevant legal provisions and notifications. Therefore, the applicant was not required to pay tax on assets and could transfer input tax credit to the private limited company. en-us Fri, 29 Jun 2018 00:00:00 +0530 Thu, 06 Mar 2025 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375453 The Authority ruled in favor of the applicant, stating that the merger of a proprietorship firm with a private limited company did not attract tax liability under the CGST/SGST Act. The transfer of input tax credit from the proprietorship firm to the private limited company post-merger was permissible under Section 18(3) of the CGST Act and Rule 41 of CGST Rules. The Authority emphasized that the transfer of unutilized input tax credit was allowed in case of a merger, supported by relevant legal provisions and notifications. Therefore, the applicant was not required to pay tax on assets and could transfer input tax credit to the private limited company. Case-Laws GST Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375453