HAR/HAAR/R/2018-19/02 Archives - Tax Heal https://www.taxheal.com/tag/har-haar-r-2018-19-02 Complete Guide for Income Tax and GST in India Tue, 19 Feb 2019 04:57:44 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 Merger of Proprietorship firm with Private Limited Company as a going concern is not a supply under GST : AAR https://www.taxheal.com/merger-of-proprietorship-firm-with-private-limited-company-as-a-going-concern-is-not-a-supply-under-gst-aar.html https://www.taxheal.com/merger-of-proprietorship-firm-with-private-limited-company-as-a-going-concern-is-not-a-supply-under-gst-aar.html#comments Mon, 18 Feb 2019 08:10:19 +0000 https://www.taxheal.com/?p=76217 Whether, consequent upon merger of propritor concern as a going concern with a private limited company, the ITC available in the credit ledger or cash ledger of the propirtorship firm is eligible to be transferred to the respective ledger account of the private limited company. ? Input Tax Credit available in credit ledger account of… Read More »

]]> Whether, consequent upon merger of propritor concern as a going concern with a private limited company, the ITC available in the credit ledger or cash ledger of the propirtorship firm is eligible to be transferred to the respective ledger account of the private limited company. ?

Input Tax Credit available in credit ledger account of proprietorship firm shall be transferred to respective credit ledger account of private limited company, consequent upon merger, subject to provisions of section 18(3)of CGST/HGST act 2017 and Rule 41 of CGST/HGST rule.

The said provisions are applicable to transfer of un-utilised ITC and are not applicable to un-utilized balance lying in electronic cash ledger.

AUTHORITY FOR ADVANCE RULINGS, HARYANA

B.M. Industries, In re

SANGEETA KARMAKAR AND VIJAY KUMAR SINGH, MEMBER

ADVANCE RULING NO. HAR/HAAR/R/2018-19/02

JUNE  20, 2018 

Pankaj Malik, CA and Harish Arora for the Applicant.

Download Ruling Click here 

 

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