Mr X had registered under MVAT for his business and paid VAT and filed returns for first 2 yrs, after that the business became difficult and he stopped all the transactions of business did not file any return and didnot even cancel the registration .
During the period of 2 yrs when business was stopped he transfered the business to someone else, but the business was still closed. now after 2 yrs of no business if the new owner wants to start hi business again, should he cancel the old MVAt registration under the name of Mr X and apply for new Registration under MVAT or can he transfer Mr X registration to his name?
CAclubindia
