PROCEDURE WHEN A PARTNERSHIP FIRM DISSOLVES AND ASSETS AND LIABILITIES ARE DISTRIBUTED AMON THE PARTNERS

Accountancy

When a partnership firm dissolves and the assets and liabilities are divided among partners, do the person acquiring company stocks from assets during division among partners needs to pay GST on the stocks acquired.

Yash Baid

CA Foundation

★ 620

30-Apr-23 12:38

562

Answers (1)

Since there is no supply, GST would not arise.

CA Suraj Lakhotia

Admin

01-May-23 19:03