If I transfer my business to another person, who will then continue the same business I was running…
If I transfer my business to another person, who will then continue the same business I was running, what will happen to my Input tax credit?
Will it be treated as supply and GST charged on supply of assets and stock or will it be transferred without charging any GST?
Chiranjibi Jul. 17, 2018
In case of transfer of business, input tax credit which remains unutilized in the electronic creditledger of the the transferor shall be transferred in the electronic credit ledger of the transferee. Tranfer of assets shall be treated as supply and GST shall be levied on it.
