As I learned in case of death of sole proprietor, If legal heirs of deceased wants to carry on business they need to obtain fresh registration and also register themselves as authorized person to surrender the existing GSTN. They can transfer balance in Cash Ledger and Credit Ledger by filling transitional form. However I have certain doubts as under which I hope someone who faced this situation can solve.
- What procedure to be followed exactly in case of death of sole proprietor?
- Do legal heirs needs to visit GST office in person to add them as authorized person?
- What documents they need to produce before GST officer to register themselves as authorized persons? (as I understand, generation of succession certificate is time consuming process)
- How to treat closing stock on which ITC already availed but there is no credit in cash or credit ledger? Do legal heirs to pay GST amount at a time of actual sale of goods or at a time of filing of Final return?
- If legal heirs to pay GST on value of goods lying at the time of death while filing final return, can they take ITC of such goods on which GST is paid closing stock and how to take credit of the same?
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