26 January 2018
IN CASE OF PROPRIETORSHIP BUSINESS IF THE PROPRIETOR WAS DIED IN MIDDLE OF THE MONTH WHAT HAPPEN- 1) BUSINESS WAS CONTINUED OR NOT UNDER SAME TRADE NAME WITH OTHER PAN NO.& ALL THE ASSETS & LIABILITIES HAS BEEN TRANSFER TO NEW PROPRIETOR. 2) GST INPUT WAS REFUND OR LAPSE. 3) CAN THE LEGAL HEIRS RECEIVED FROM DEBTORS OR MAKE PAYMENT TO CREDITORS AFTER PROPRIETOR'S DEATH. 4) CAN PURCHASE MADE AFTER HIS DEATH.
Read more at: https://www.caclubindia.com/experts/ask_query.asp 4)
26 January 2018
1 Business can be continued with the same trade name with PAN of legal heir. 2 GST input not lapse. 3 Legal heirs can receive payment from debtors and make payment to creditors. 4 Purchase can be made.
26 January 2018
how to claim input credit of gst? there is not any problem to running business in the PAN of proprietor who was died because transfer of name takes some time.
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