(1)(a)A registered dealer shall inform the registering authority, in the following circumstances within thirty days, if -(i)he sells or otherwise disposes of his business or any part thereof, or(ii)there is any change in ownership of the business including any change in the status, or(iii)the business is discontinued or the place of business is changed, or(iv)any change in the name, style or nature of the business, for necessary amendments to be made in the registration certificate.(b)In case of death of the registered dealer, his legal representative shall inform the registering authority within thirty days for any amendments or may surrender the registration certificate.(2)The registering authority on receipt of application for amendment or otherwise on his own motion may amend the registration certificate or reject the application within thirty days of the date of receipt of such application, after making such enquiry as he deems fit and after giving reasonable opportunity of being heard.(3)An amendment of a certificate shall take effect from the date of the event referred to in sub-section (1) which necessitates the amendment, whether or not the information in that behalf is furnished within the time specified in that sub-section:Provided that, where in consequence of a change in the ownership of a business, the liability to pay tax of a dealer ceases, the amendment of the certificate of registration shall take effect from the date of the submission of application to the registering authority.(4)Any amendment of a certificate of registration shall be without prejudice to any liability for tax or any such amount due or leviable or for any prosecution for an offence under this Act.(5)If a dealer fails without sufficient cause to comply with the provisions of sub-section (1), the registering authority may, after giving the dealer a reasonable opportunity of being heard, direct him to pay a penalty of five hundred rupees in addition to the penalty chargeable on the tax due at the rate provided under sub-section (4) of section 37 of this Act.(6)For removal of doubt, it is hereby mentioned that where a registered dealer,-(i)effects a change in the name of his business; or(ii)is a firm and there is a change in the constitution of the firm without dissolution thereof; or(iii)is a trustee of a trust and there is a change in the trustees thereof; or(iv)is a Hindu undivided family and the business of such family is converted into a partnership business with all or any of the co-parceners as partners thereof ; or(v)is a firm or a company or a trust or any other organisation and a change occurs in the management of the organisation such as any change of directors or managing directors of the company as the case may be, then merely by reason of the circumstances aforesaid, it shall not be necessary for the registered dealer to apply for a fresh certificate of registration but it shall be sufficient, on information being furnished, to get the registration amended.
