Home Forum Goods and Services Tax - GST Month 8 2020 2020 (8) This
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Whether 180 days payment clause applicable if partner brought his assets as capital - Goods and Services Tax - GSTExtract Sir, there are two private limited companies who want to make partnership firm in which one company brought cash as its capital and other company brought his assets as capital. Now, that company transfer his assets to partnership firm in form of capital introduce by partner.And company charge GST on transfer of assets to partnership firm. Now, question is whether such partnership is eligible to take input tax credit on purchase of such assets because no payment is made to company who sold such assets due to capital introduce by such partner.
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