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of <h1>Transfer of Unutilized ITC on Sole Proprietor's Death Under J&K GST Act 2017: Key Steps for Successors.</h1> The circular addresses the transfer of unutilized input tax credit (ITC) in the event of a sole proprietor's death under the Jammu and Kashmir Goods and Services Tax Act, 2017. It clarifies that the transfer of business due to the proprietor's death allows the successor or transferee to assume the ITC. The successor must register from the date of transfer and can file FORM GST ITC-02 to transfer the ITC. The legal heirs can cancel the deceased's registration via FORM GST REG-16. Both the transferor and transferee are jointly liable for any outstanding tax liabilities.
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