TaxTMI 
TaxTMI 
GST on transfer of partnership share in LLP
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....ST on transfer of partnership share in LLP<br> Query (Issue) Started By: - Nilesh Mahajan Dated:- 22-5-2024 Last Reply Date:- 26-5-2024 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>There is a corporate restructuring within a bunch of group companies. I would like to know the taxability under GST of transfer of partnership share by a partner in LLP to a existing partner or in case of a t....
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....hird party against shares in a private limited company. As per my understanding, shares against share in partnership is a barter transaction. Transfer of shares will be outside GST as it securities. But the other leg, i.e., transfer of partnership share the same will qualify as 'supply of service'. Reply By Shilpi Jain: The Reply: How does transfer of partnership share occur? Retireme....
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....nt and admission of partner right? So are you saying that this person is giving away his right of profit which is a service? Reply By Shilpi Jain: The Reply: Is there any agreement to this effect? Reply By Narayan Pujar: The Reply: There is no agreement yet. But this arrangement is still in talks and we are exploring the avenues. Yes, existing partner is giving up interest in partnership and r....
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....etiring. In return he is receiving shares in another company and Company will become the new partner. Reply By Shilpi Jain: The Reply: The nature of agreement between the retiring partner and the incoming partner will decide the taxability In the other scenario, it would be in the nature of repayment of capital of the retiring partner and should not be liable to GST.<br> Discussion Forum - Kno....
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