Transfer of business liability: transferrer and transferee jointly liable for unpaid tax; transferee liable from transfer date. Where a taxable person transfers a business, the transferor and transferee are jointly and severally liable for tax, interest or penalty due up to the date of transfer, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of business liability: transferrer and transferee jointly liable for unpaid tax; transferee liable from transfer date.
Where a taxable person transfers a business, the transferor and transferee are jointly and severally liable for tax, interest or penalty due up to the date of transfer, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.
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