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of <h1>Under Punjab GST Act 2017, transferor and transferee share liability for unpaid taxes pre-transfer; transferee must amend registration.</h1> Under the Punjab Goods and Services Tax Act, 2017, when a taxable person transfers their business, whether entirely or partially, through sale, gift, lease, or any other means, both the transferor and transferee are jointly and severally responsible for any outstanding tax, interest, or penalties up to the transfer date. This liability applies regardless of whether the amounts were determined before or after the transfer. Additionally, the transferee must pay tax on goods or services supplied post-transfer and is required to amend their registration certificate within a specified timeframe if they are registered under the Act.
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