Change in ownership in TIN - Professionals - GST - TIK Share
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Change in ownership in TIN


SANJAY KUMAR GANNA

2014-04-24

Hi Friends,

 

One of my Relative is taken Tin no. in his name and he is running his business in Rented property long back

 

Now another relative who was working with him now want to take over the business.


IN Sales tax act of karnataka, Is there any provision where ownership can be changed in Vat Certificate.

Because the second relative will just take the business fully and will run the business only the proprietor will change

Please let me know what are the steps required in details

CA Pulkit Sharma

2014-04-24

Amendments to VAT Registration is possible only if the entity is not individual. In your case the dealer is individual and hence amendment can not be made.

Your relative have to surrender the certificate and new owner have to get fresh registration.

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