New GST Registration

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..... New GST Registration
Query (Issue) Started By: - Kaustubh Karandikar Dated:- 16-2-2023 Last Reply Date:- 21-2-2023 Goods and Services Tax - GST
Got 5 Replies
GST
XYZ (Proprietor) is converting his business from Proprietor to Private Limited Company as a 'Going Concern'. The Private Limited Company, while making the application for new GST Registration, has to select the option under ' .....

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..... Reason to obtain registration'. Which option to be selected by them? Whether 'Transfer / Succession of Business' or 'Change in Constitution of Business' or any other option? Kindly guide. Reply By KASTURI SETHI: The Reply: Change in the constitution of the business. This is the basic reason. Reply By V Rajalakshmi: The Reply: Private limited companies can only take over the assets of a proprie .....

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..... torship business, and conversion into a private limited company is not legally possible like merger, Amalgamation etc; therefore, I believe it would be better to choose the option- "others". Reply By Amit Agrawal: The Reply: As party will be claiming various benefits available under the Act against 'transfer of business as going concern', Private Limited Company should specify .....

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..... 'Transfer / Succession of Business' (i.e. among the options as available / shown on the GST portal & quoted by you in your query) as reason while taking registration. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. Reply By KASTURI SETHI: The Reply: This fact cannot be denied that in this scenario constitution of the firm will be chang .....

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..... ed. Reply By Kaustubh Karandikar: The Reply: thanks all experts for your kind guidance. In my view, more appropriate will be 'Transfer of Business'.
Discussion Forum - Knowledge Sharing .....

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