Transfer of business liability: transferor and transferee jointly and severally responsible for outstanding VAT tax, interest and penalties. Where a dealer transfers his business wholly or partly by any mode, the transferor and transferee are jointly and severally liable for tax, interest and penalty due up to the transfer date, including amounts assessed before or after transfer; a transferee carrying on the business is liable for tax on sales from the transfer date and, if registered, must apply to amend his registration within the time specified in section 21.
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: transferor and transferee jointly and severally responsible for outstanding VAT tax, interest and penalties.
Where a dealer transfers his business wholly or partly by any mode, the transferor and transferee are jointly and severally liable for tax, interest and penalty due up to the transfer date, including amounts assessed before or after transfer; a transferee carrying on the business is liable for tax on sales from the transfer date and, if registered, must apply to amend his registration within the time specified in section 21.
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