Death of Proprietor- the Procedure for Transfer of Business as Going Concern to Successor- in GST

 

                                                                                                        

1. Registration of a New Entity in which business of deceased individual is to be transferred w. e. f. date of succession i.e. date of death of proprietor. If successor is a minor, his legal guardian will be the authorized signatory.

2. Application by legal heir/ successor with Jurisdictional GST Officer for appointment as authorized signatory and issuance of new login id and password. 

3. The GST Officer will send a temporary user id and password on the email of newly added authorized signatory.

4. The Authorized signatory shall file all monthly GST Returns applicable till the date of succession and pay applicable taxes.

5. The authorized signatory shall file Form GST ITC-02, for transfer of ITC lying in the electronic credit ledger, using the registration of deceased proprietor. 

6. The New Entity shall accept the details of Form GST ITC-02 and upon such acceptance the unutilized ITC will be transferred to the Electronic Credit Ledger of New Entity.

7. The authorized signatory shall file application for cancellation of registration in Form GST REG 16 for cancellation of registration of deceased proprietor after completing all other compliances till date.

8. After issuance of cancellation order the authorized signatory shall file final return in form GSTR-10.