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of <h1>Transfer of Business: Joint Liability for Outstanding Taxes on Transferor and Transferee Under Section [X]</h1> When a taxable person transfers their business, whether by sale, gift, lease, or other means, both the transferor and transferee are jointly and severally liable for any outstanding tax, interest, or penalties up to the time of transfer. This liability applies regardless of whether these obligations were determined before or after the transfer. The transferee must also pay taxes on goods or services supplied from the date of transfer and, if already registered, must amend their registration certificate within the prescribed time.
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