New GST Registration

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..... 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 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 .....

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..... 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 proprietorship business, and conversion into a private limited company is not legally possible like merger, Amalgamation etc; therefore, I believe it would be .....

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..... 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 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 reg .....

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..... istration. 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 changed. - Reply By Kaustubh Karandikar - The Reply = thanks all experts for your kind guidance. In my view, more appropriate will be 'Transfer of B .....

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..... usiness'. - New GST Registration - Query Started By: - Kaustubh Karandikar Dated:- 16-2-2023 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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