Liability on transfer of business: transferor and transferee share responsibility for pre-transfer tax; transferee liable for post-transfer supplies. Transfer of a business triggers joint and several liability of transferor and transferee for tax, interest and penalties due up to the transfer date, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and must, if registered, apply within the prescribed time to amend the registration certificate.
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Provisions expressly mentioned in the judgment/order text.
Liability on transfer of business: transferor and transferee share responsibility for pre-transfer tax; transferee liable for post-transfer supplies.
Transfer of a business triggers joint and several liability of transferor and transferee for tax, interest and penalties due up to the transfer date, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and must, if registered, apply within the prescribed time to amend the registration certificate.
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