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GST Implication on death of Sole Proprietor

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GST Implication on death of Sole Proprietor

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  1. GST Implication on death of Sole Proprietor

  2. 1. Business is taken over and continued by Legal Heir • 1.1 GST Registration by Successor/Legal Heir • 1.2Adding Legal heir/Successor as Authorised Signatory • 1.3 Transfer of Input Tax Credit to Successor/Legal Heir • 1.4 Transfer of GST Liability to Successor/Legal Heir • 1.5 Cancellation of GST registration of successor •

  3. Business is taken over but not continued by Legal Heir • 2.1 Appointment of Authorised Representative • 2.2 Transfer of GST Liability • 2.3 Transfer of Input Tax Credit • 2.4 New GST registration by Legal Heir/Successor not required • 2.5 Cancellation of GST registration of successor •

  4. Conclusion • Mere cancellation of GST registration on death of sole proprietor is not enough. Legal Heirs are required to discharge GST on stock and capital assets held on the date of cancellation of GST registration of deceased proprietors. Alternatively, legal heir may take over the business of the deceased proprietor and transfer GST liability of deceased proprietor and ITC lying in his electronic credit ledger to their own GSTIN.

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