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Transfer of proprietorship firm in case of death of proprietor

dilip kumar duggar (article assistant) (116 Points)

05 January 2019

can proprietorship firm transfer to other person after death of proprietor...
and if no then what sequences should follow by legal heir...

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12 Replies

SWARNAMALYA B (285 Points)
Replied 05 January 2019

Yes... normally after the death of the proprietor ,His business will be transferred to his legal heir.

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Giridhar S Karandikar (Team Lead) (7548 Points)
Replied 05 January 2019

change in shop act license factory act license, change in bank account .
intimation to debtors/creditors about change in proprietor

dilip kumar duggar (article assistant) (116 Points)
Replied 05 January 2019

in gst what treatment should be done...

Giridhar S Karandikar (Team Lead) (7548 Points)
Replied 05 January 2019

old gst will be cancelled and new gst certificate will be cancellef

Ravi SADhiyan (Practice) (4510 Points)
Replied 05 January 2019

In the Reason to obtain registration drop-down list, select the reason of liability to obtain registration for your business.

Select Death of Proprietor

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Ravi SADhiyan (Practice) (4510 Points)
Replied 05 January 2019

Transferee to furnish details of credit available in Form GST ITC-02

1 Like

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 06 January 2019

Yes can be Tranfer :

1. Legal Hier has to visit the Jurisdiction officer & Submit the Death Certifcate along with Succession Certificate

2. Legal Hier has to apply for New Registration.

3. once the new Registration approved , Legal Hier can file ITC 02 , For transfer of any Balance from Credit ledger of Deased proprietor

4. legal hier or Authorized signatory has to File application for cancellation by selecting option " Death of Prop" , & provide the GSTN of Transferee.

Refer Notification 60/2018 CT

1 Like

manoj (student) (5205 Points)
Replied 06 January 2019

FULLY AGREE WITH PANKAJJI

Prachi Bansal (3129 Points)
Replied 30 March 2021

What if there is no legal heir? Who does the firm get registered in the name of after the death?

Suman Kumar Agrawal (Chartered Accountants) (226 Points)
Replied 01 March 2022

When the proprietor is under composition Tax than why he will file ITC -02?

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Suman Kumar Agrawal (Chartered Accountants) (226 Points)
Replied 01 March 2022

if the deceased son will continue his business after getting new registration.Tax Treatment of closing Stock under composition of the deceased proprietor.