We've upgraded AI Search on TaxTMI with two powerful modes:
1. Basic • Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI
2. Advanced • Includes everything in Basic • Detailed report covering: - Overview Summary - Governing Provisions [Acts, Notifications, Circulars] - Relevant Case Laws - Tariff / Classification / HSN - Expert views from TaxTMI - Practical Guidance with immediate steps and dispute strategy
• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:
Transfer of input tax credit permitted on death of sole proprietor; transferee files ITC-02 and assumes related liabilities. Unutilized input tax credit may be transferred when a sole proprietor dies and the business continues under a transferee/successor. The transferee must register with reason 'death of the proprietor,' the transferor may cancel registration linking the transferee's GSTIN, and FORM GST ITC-02 must be filed electronically by the transferee for the registration being cancelled prior to filing the cancellation; upon acceptance the credit is credited to the transferee's electronic credit ledger. Transferor and transferee are jointly and severally liable for tax, interest or penalty due from the transferor. Effective date: 28.03.2019.
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 input tax credit permitted on death of sole proprietor; transferee files ITC-02 and assumes related liabilities.
Unutilized input tax credit may be transferred when a sole proprietor dies and the business continues under a transferee/successor. The transferee must register with reason "death of the proprietor," the transferor may cancel registration linking the transferee's GSTIN, and FORM GST ITC-02 must be filed electronically by the transferee for the registration being cancelled prior to filing the cancellation; upon acceptance the credit is credited to the transferee's electronic credit ledger. Transferor and transferee are jointly and severally liable for tax, interest or penalty due from the transferor. Effective date: 28.03.2019.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
