stock on death

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asif shaikh

192 Points Joined April 2017

My client was registered under gst. He died on September 2017.After that his brother take new registration on same premises and continue business now deceased registration cancrllation applications will apply shortly. What will be legal position for closing stock of deceased dealer. Can his brother use deceased dealer stock, if that what is legal position for tax.

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208912 Points Joined July 2016

Legally, stock gets transferred to legal heir, without any GST levy, at the same time the heir cannot claim ITC over the stock, unless permitted by department.