Amendment status not verified — confirm the current text below against the official source.
Canccllation of registratioD and ttaDsfer of business I ' (1) The prescihe.l .luthodly may canoel thcregistlalion ofany deelerin any ofthefollowing cases- (a) in the case oI incorpoaatcd body, closed clowr. sold or ransfen ed or if lhe incoryomted body otherwise ceases to cxisl: (b) in lhecase of irdividual ownersh\). iftheownerdies: (c) in thccase ofa firm orassociation ofpeNons ifitlsdissolvedotif leregistered dealer ceases lo be cngagecl ill the business ol ifa pcrson is rcgislered by n'listake' _fhe canccllation ofrcgistmtion n]ay he on praycrfl'om the dealer oron llle prcscibed authodty's finding_s. Alllhe goods that remain in slock al the ti mc ofcancellation ofregisllation (including capital goods) on which inpul tax has ahladyllecn given credit' tax shallbe assossed and coller]te'l in the anneras may be Prescibcd. ]hccirncellaLionofrcgisfationwilltakeeffectftomtheen.lofthcperiodirwhich'lercgistration is cancelled unless the prescibed authority ode$ thecanccllation io take effect on an earliel- date. Any clealerrcgislered un.ler this Ac! shall mention lhe Regislration Certificate No issuedby the prcscdbed authodty in lris relurr, challan. peliLion and otherdocuments used lor the purpose