Sir their were two partners now 1left so we have to cancel old and apply for new .Both are composition. To cancel the old one should I pay tax on sales and also closing stock and close old firm????
Again when new will sale the goods again on that also we have to pay 1percent
This will lead to paying tax on same goods two times……so can you help me out with the solution…..what will the treatment be in this case for new and old firms
Whenever you get time kindly resolve the above sir because we have many such cases.
Sharan Asked question October 4, 2021