11 March 2020
DEAR SIR MR A. REG.UNDER GST. ACT IN THE NAME OF M/S XXX TRADER. MR A PASSED AWAY AS ON 1ST FEB 2020. AND CLOSING STOCK RS,35.00 LAK, AND ITC CLAIM RS 8.00 LAK..MR Y.(BROTHER OF MR A.) REG UNDER GST ACT, SAME TRADERS NAME OF XXX TRADER. MR. Y.RIGHT IS CLAIM AND TACK OF ITC AND CLOSING STOCK FROM A TRADERS?
11 March 2020
Mr Y is entitled for ITC in stock and transfer of ITC claim after due procedure.
If legal Heir (Mr Y )continues the business , it will be considered as transfer of business. GST ITC 02 need to be filed before filing application for cancellation of existing registration .Mr Y need to apply for registration in GSTR 01 .. He should state the reason of registration as death of proprietor . On acceptance of new registration / cancellation of existing registration , unutilised ITC / ITC claim shall be credited to electronic credit ledger of Mr. Y
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