Transfer of business liability: transferor and transferee jointly liable for pre-transfer tax obligations; transferee assumes post-transfer tax duties. Both transferor and transferee are jointly and severally liable for tax, interest and penalty due from the transferor up to the time of a business transfer, including amounts determined after transfer; the transferee is liable for tax on supplies from the date of transfer and must seek prescribed amendment of registration if registered.
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Provisions expressly mentioned in the judgment/order text.
Transfer of business liability: transferor and transferee jointly liable for pre-transfer tax obligations; transferee assumes post-transfer tax duties.
Both transferor and transferee are jointly and severally liable for tax, interest and penalty due from the transferor up to the time of a business transfer, including amounts determined after transfer; the transferee is liable for tax on supplies from the date of transfer and must seek prescribed amendment of registration if registered.
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