Section 28(2) in The Karnataka Value Added Tax Act, 2003
(2)Where,-(a)a change of ownership of the business takes place on account of transfer of business from one registered dealer to another, the dealer succeeding to the business, or(b)there is any change in the status of the ownership of the business, such registered dealer shall surrender the certificate of registration already issued in respect of the business and apply for registration afresh in the prescribed manner.
