Section 5 in The Punjab Passengers and Goods Taxation Rules, 1952
5. Amendment or cancellation of certificate of registration.
(1)If the owner-(a)sells or otherwise disposes of his business or any part of such business or effects any other change in the ownership, name, style, location, nature or extent of such business; or(b)discontinues such business he shall, within thirty days of such sale, disposal, discontinuance or change, submit a report to that effect to the Assessing Authority, and if the owner is registered under the Act, he shall apply in form PTT 3 to the Assessing Authority for cancellation or amendment of the certificate of registration, as the case may be.(2)When the Assessing Authority receives an application in form PTT 3 under sub-section (1) for the amendment of a certificate of registration, he shall, after making such enquiry, if any, as he thinks fit, make necessary amendment in the certificate of registration.(b)When the Assessing Authority receives an application in Form PTT 3 for the cancellation of a certificate of registration under sub-rule (1) or is otherwise satisfied that a certificate of registration should be cancelled he shall after making such enquiry, as he thinks fit, cancel the registration certificate and it shall be deemed to have been cancelled and the liability to pay tax under the Act deemed to have ceased with effect from the date specified by the Assessing Authority in this behalf.
