Joint liability of partners preserves GST obligations until retirement notice is received by tax authorities. Partners are jointly and severally liable for tax, interest and penalty of the firm. A retiring partner remains liable for amounts attributable up to the date of retirement if the firm or retiring partner gives written notice of retirement to the Commissioner; failing notice within one month, the retiring partner's liability continues until the Commissioner receives the notice.
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.
Joint liability of partners preserves GST obligations until retirement notice is received by tax authorities.
Partners are jointly and severally liable for tax, interest and penalty of the firm. A retiring partner remains liable for amounts attributable up to the date of retirement if the firm or retiring partner gives written notice of retirement to the Commissioner; failing notice within one month, the retiring partner's liability continues until the Commissioner receives the notice.
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