Acquisition of Business

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cquisition of Business<br> Query (Issue) Started By: - Murari Agrawal Dated:- 8-5-2019 Last Reply Date:- 12-5-2019 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>Dear Experts, we are a partne....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rship firm propose to acquire the business of another partnership firm with all its assets & liabilities. After such acquisition, we hope we can get the transfer of balances lying in their GST Credit ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ledgers to our respective Credit ledgers. Seeking your valued opinion. Reply By KASTURI SETHI: The Reply: It is allowed.See Rule 41 of CGST Rules, 2017. Form GST ITC-02 has to be filled electronical....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ly by the transferee. Services by way of transfer of a going concern, as a whole or independent part thereof is exempted from GST vide Serial No. 2 of Notification No.12/17-CT(Rate) dated 28.6.17 as a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mended. Reply By Ganeshan Kalyani: The Reply: GST liabilities & GST credit of the acquiring firm shall get carry forward to you partnership firm.<br> Discussion Forum - Knowledge Sharing ....