TaxTMI 
TaxTMI 
TaxTMI 
Demerger of one segment of X (entity) to Y(other entity)
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....emerger of one segment of X (entity) to Y(other entity)<br> Query (Issue) Started By: - DHRUV CHOPRA Dated:- 27-11-2023 Last Reply Date:- 17-1-2024 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<b....
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....r>NCLT approved the demerger of one segment of X on 13-09-2023, and Books of the demerger segment of X to Y were transferred on 31-03-2023. GST registration of Y was obtained in Oct'22 and Turnove....
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....r as per GST return of Y for FY 2022-23 was NIL, but Y is having turnover of lakhs as per Audited FS for FY 2022-23 due to business transfer activity on 31-03-2023. So pls advise about the treatment o....
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....f this transaction in GSTR 9 & 9C of X & Y for FY 2022-23. Reply By Pradeep Reddy: The Reply: Please refer Sec 87 of the CGST. Turnover shall be reported in the original company X till the effective....
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.... date of de-merger. If the effective date is 31.03.2023. For 9 & 9C- pls disclose turnover of demerged unit of X till 31.03.2023 in X's 9C and any transaction which occurs after said date can be....
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.... disclosed in 9 & 9C of Y. Hope this clarifies. If the effective date is 13.09.2022. For 9 & 9C- pls disclose turnover of demerged unit of X till 13.09.2022 in X's 9C and any transaction which o....
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....ccurs after said date can be disclosed in 9 & 9C of Y. Hope this clarifies.<br> Discussion Forum - Knowledge Sharing ....