Section 49(2) in The M.P. Vanijyik Kar Adhiniyam, 1994
(2)When a dealer liable to pay tax transfers the ownership of a part of the business, the transferor shall be liable to pay the tax in respect of the stock of goods transferred along with the part of his business, which is not so transferred, as if the goods have been sold by him, unless the tax on such goods is leviable on the last sale.
