18. Information to be furnished regarding changes in business, etc.:-
Any registered dealer liable to pay tax under this Act, who,-
(1) (a) transfers by way of sale or otherwise disposes of his business or any part thereof, or effects or knows of any other change in the ownership of the business, or
(b) discontinues his business, or changes the place thereof, or opens a new place of business, or
(c) changes the name of his business, or
(d) enters into a partnership in regard to his business, or
(e) applies for or has an application made against him for insolvency or liquidation,
(f) being a company, is involved in merger, de-merger or amalgamation of companies,
1[(g) undertakes any change in the nature of business, or
(h) effects any changes in the Bank account.]
shall, within the prescribed time, inform the prescribed authority accordingly.
(2) Where any dealer liable to pay tax under this Act,-
(a) dies, his executor, administrator or other legal representative or,
(b) where he is a firm, a Hindu Undivided Family or an association of persons and there is a change in the constitution of such firm, Hindu Undivided Family or association, either by way of dissolution, disruption, partial partition or partition, or otherwise, then every person who was a partner, Karta or a member of such firm, Hindu Undivided Family or association, or
(c) transfers or otherwise disposes of his business in the circumstances mentioned in sub-section (4) of section 44, then any person from whom and every person to whom the business is so transferred,
shall, in the prescribed manner, inform the said prescribed authority of such death, change in the constitution, dissolution, partial partition, partition, disruption or transfer.
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1. These clauses (g) & (h) were added by Mah. Act. No. XII of 2010 dt.29.04.2010 w.e.f. 1st May, 2010. |