Question 31: We have converted our business from partnership to proprietorship. What is process for change in GST and how can i get credit of ITC outstanding in partnership firm.
Answer: Please see Rule 19(1)(d) as follow
(d) where a
change in the constitution of any business results in the change of the
Permanent Account Number of a registered person, the said person shall
apply for fresh registration in FORM GST REG-01:
Provided further that any change in the mobile number or e-mail address of the
authorised signatory submitted under this rule, as amended from time to time,
shall be carried out only after online verification through the common portal in
the manner provided under 1[sub-rule (2) of rule 8] old [the
said rule].
As per above rule
because the PAN no is changed so you have to take fresh
registration
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Further as per rule the
balance of credit available in ITC account will be carried forward
RULE 41. Transfer of
credit on sale, merger, amalgamation, lease or transfer of a business (corresponding
section 18)
(1) A registered person
shall, in the event of sale, merger, de-merger, amalgamation, lease or transfer
or change in the ownership of business for any reason, furnish the details of
sale, merger, de-merger, amalgamation, lease or transfer of business, in FORM
GST ITC-02, electronically on the common portal along with a request for
transfer of unutilized input tax credit lying in his electronic credit ledger to
the transferee:
Provided that in the case of demerger, the input tax credit shall be apportioned
in the ratio of the value of assets of the new units as specified in the
demerger scheme.
(2) The transferor shall
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