Transfer of manufacturing license (From proprietor to Pvt Ltd)
3 months ago
I want to convert my company from proprietor to pvt ltd company. I have drug manufacturing license on the proprietary firm. Will it get transferred automatically or will I have to apply for the new license for the pvt ltd company
A.Dear Client,
The process of converting your proprietorship into a private limited company involves distinct legal procedures. While the drug manufacturing license you currently hold is associated with the proprietorship, it does not automatically transfer to the new private limited company. Typically, you will need to apply for a new license for the private limited company. It is advisable to consult with legal professionals or regulatory authorities involved in licensing for precise guidance on the steps and requirements for obtaining a new drug manufacturing license for your private limited company. Ensure compliance with all relevant laws and regulations during this transition to maintain the legality and authorization of your pharmaceutical operations.There is no specific provision under the Goods and Services Tax (GST) Act on how to convert a proprietorship into a partnersh. Still, there are various mentions in the Act on converting a proprietorship into partnership firm. It includes obtaining GST registration for partnership, transfer of unutilised Input Tax Credit (ITC) to partnership firm, and cancellation of proprietorship GST registration.
Thankyou
The process of converting your proprietorship into a private limited company involves distinct legal procedures. While the drug manufacturing license you currently hold is associated with the proprietorship, it does not automatically transfer to the new private limited company. Typically, you will need to apply for a new license for the private limited company. It is advisable to consult with legal professionals or regulatory authorities involved in licensing for precise guidance on the steps and requirements for obtaining a new drug manufacturing license for your private limited company. Ensure compliance with all relevant laws and regulations during this transition to maintain the legality and authorization of your pharmaceutical operations.There is no specific provision under the Goods and Services Tax (GST) Act on how to convert a proprietorship into a partnersh. Still, there are various mentions in the Act on converting a proprietorship into partnership firm. It includes obtaining GST registration for partnership, transfer of unutilised Input Tax Credit (ITC) to partnership firm, and cancellation of proprietorship GST registration.
Thankyou
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A.Dear Client
First of all converting a proprietorship business into a company (Pvt. Ltd.) involves lot of legality and you cannot simply do this by transferring. You will have to follow certain procedures after having consulted a CA and a Lawyer.
Secondly, any license is issued in a particular name and if you want the same license then you shall have to apply for a new license in the name of the new company. If the authorities have the provision of transferring the license then also you shall have to apply to them for transferring the license.
First of all converting a proprietorship business into a company (Pvt. Ltd.) involves lot of legality and you cannot simply do this by transferring. You will have to follow certain procedures after having consulted a CA and a Lawyer.
Secondly, any license is issued in a particular name and if you want the same license then you shall have to apply for a new license in the name of the new company. If the authorities have the provision of transferring the license then also you shall have to apply to them for transferring the license.
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