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what will we do.. after death of proprietorship firm

Gulshan Agrawal (Student Others) (122 Points)

17 September 2018

Sir we run a propreitorship firm in gst in fathers name...
But he now expired..
Then what we will do..? What we have to open new prop firm or we can continue old one?

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2 Replies

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 17 September 2018

You can run the same with new registration after transferring all your stock to new GSTIN

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Vinod Babu (24191 Points)
Replied 17 September 2018

The death of a sole proprietor does not mean operations immediately cease, however. If the sole proprietor authorized his personal representative to care for the business upon her death, the operations may continue. Additionally, the sole proprietor’s heirs could choose to continue the business, either as a new sole proprietorship or as some other business form.