Question ID : 40682

Cancellation of registration and furnishing stock in case of takeover

"A" concern wants to cancel registration ( no more business) and has some stock (credit of stock already utilised in regular course). "B" wants to takeover the business of "A". While applying for cancellation of GST registration "A", is it compulsory to mention stock details with taxable value and NIL ITC on stock (Because if Credit details is entered, will it be carried forward to "B" and "B" will not be eligible for ITC as, "A" has already utilised ITC on such stock). What Stock details is to be entered while applying cancellation of GST registration of "A"?

posted by Shyamal Jariwala on Jun 12 2020 12:00AM