TREATMENT OF CLOSING STOCK WHEN PARTNERSHIP IS CONVERTED TO SOLE PROPRIETORSHIP

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....REATMENT OF CLOSING STOCK WHEN PARTNERSHIP IS CONVERTED TO SOLE PROPRIETORSHIP<br> Query (Issue) Started By: - MVK TAXAUDIT Dated:- 25-2-2020 Last Reply Date:- 27-2-2020 Goods and Services Tax - GST<b....

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....r>Got 1 Reply<br>GST<br>TREATMENT OF CLOSING STOCK WHEN PARTNERSHIP IS CONVERTED TO SOLE PROPRIETORSHIP UNDER TWO DIFFERENT SITUATIONS : 1. WHEN THERE IS EXCESS ITC . 2. WHEN IS THERE NO EXCESS ITC ....

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..... ALSO WHETHER PARTNERSHIP FIRM SHOULD CLEAR CLOSING STOCK BY MAKING A SALES BILL TO SOLE PROPRIETORSHIP OR IT CAN TRANSFER IT TO THE SOLE PROPRIETOR ( ONE OF THE PARTNER ) WITHOUT MAKING SALES BILL.....

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.... KINDLY ADVICE ON THE ABOVE. Reply By KASTURI SETHI: The Reply: See reply against Issue ID No.116073 dated 26.2.20 in this forum.<br> Discussion Forum - Knowledge Sharing ....