Liability on transfer of business: transferor and transferee are jointly and severally liable for pre transfer tax obligations. Where a taxable person transfers a business in whole or part, the transferor and transferee are jointly and severally liable for tax, interest or penalty due from the transferor up to the time of transfer, whether determined before or after transfer; the transferee is liable for tax on supplies from the date of transfer and must, if registered, seek prescribed amendment 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.
Liability on transfer of business: transferor and transferee are jointly and severally liable for pre transfer tax obligations.
Where a taxable person transfers a business in whole or part, the transferor and transferee are jointly and severally liable for tax, interest or penalty due from the transferor up to the time of transfer, whether determined before or after transfer; the transferee is liable for tax on supplies from the date of transfer and must, if registered, seek prescribed amendment of registration.
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