Section 27(1) in The Karnataka Value Added Tax Act, 2003
(1)In any case where,(a)any business of a registered dealer has been discontinued, transferred fully or otherwise disposed of; or(b)there is any change in the status of the ownership of the business; or(c)the taxable turnover of sale of goods of a registered dealer has, during any period of twenty four consecutive months, not exceeded two lakh rupees; or(d)a dealer issues tax invoices without effecting any taxable sales; or(e)a dealer being an individual, registered under this Act dies,and for any other good and sufficient reason, the prescribed authority may, either on its own motion or on the application of the dealer, or in the case of death, on the application of the legal heirs, made in the prescribed manner, cancel the registration certificate from such date, including any anterior date, as it considers fit having regard to the circumstances of the case.
