Transfer of business liability: transferee jointly liable for prior tax and liable for supplies from transfer date. Liability for tax, interest and penalties arising up to the point of transfer attaches to both transferor and transferee, who are jointly and severally liable to the extent of the transfer whether determined before or after transfer. The transferee is liable to pay tax on supplies made 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: transferee jointly liable for prior tax and liable for supplies from transfer date.
Liability for tax, interest and penalties arising up to the point of transfer attaches to both transferor and transferee, who are jointly and severally liable to the extent of the transfer whether determined before or after transfer. The transferee is liable to pay tax on supplies made from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.
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