https://www.taxtmi.com/forum/issue?id=119008 Transfer of a proprietary business as a going concern is exempt from GST but requires reversal of ineligible input tax credit under Section 17(2) read with Rule 42; GSTIN is not transferable, notices and appeals remain with the registered person, and the purchaser may incur joint liability under Section 85 for unpaid tax. Appropriate documentation (invoice, assignment deed), professional advice, and consideration of Income Tax consequences are advisable, with closure of GST registration possible after relevant matters are addressed. en-us Mon, 26 Feb 2024 15:20:29 +0530 Fri, 24 Jan 2025 10:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119008 Transfer of a proprietary business as a going concern is exempt from GST but requires reversal of ineligible input tax credit under Section 17(2) read with Rule 42; GSTIN is not transferable, notices and appeals remain with the registered person, and the purchaser may incur joint liability under Section 85 for unpaid tax. Appropriate documentation (invoice, assignment deed), professional advice, and consideration of Income Tax consequences are advisable, with closure of GST registration possible after relevant matters are addressed. Discussion-Forum GST Mon, 26 Feb 2024 15:20:29 +0530 https://www.taxtmi.com/forum/issue?id=119008