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of <h1>Section 85 CGST Act: Transferor and transferee jointly liable for tax dues during business transfers, including sales and gifts.</h1> Section 85 of the CGST Act outlines the liability for tax payments in cases of business transfers. Both the transferor and transferee are jointly and severally responsible for any tax, interest, or penalties due up to the transfer time. This applies whether the business is transferred by sale, gift, lease, or other means, and includes changes due to the death of a sole proprietor. The transferee must also register any changes in ownership. Examples illustrate these liabilities, showing both parties' responsibilities for dues incurred before the transfer.
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