Surrender/transfer of vat registration under sole-proprietor

This query is : Resolved

Vikas Kothari (Querist)
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31 January 2012 I have a business whose sole-proprietor is my DAD (registered under Karnataka VAT). My DAD now wants me to run the same business independently. Can i transfer the business/sole-proprietorship to my name. What is the procedure involved. Kindly help, thank you.

CA. Hari Kishan

CA. Hari Kishan (Expert)
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31 January 2012 The business run as a sole proprietorship could be transferred to any person as SALE OF A RUNNING CONCERN. Such turnover shall be exempted as per rule 3(2)(g).

Please note that there shall be change in the TIN no. and a fresh registration shall be granted in your case.

For any further assistance you could mail to pc_chhajer@yahoo.com