27. Amendment of certificate of registration.

27. The prescribed authority may from time to time and any certificate of registration in accordance with the information furnished under sections 27A, 27B, 27C or otherwise received, after due notice to the dealer, and such amendment may be made with retrospective effect in such circumstances, and subject to such restrictions on conditions, as may be prescribed.

27A. Information to be furnished by a registered dealer regarding change of business.

27A. If any registered dealer--

(a) sells or otherwise disposes of his business or any part of his business or effects or comes to know of any change in the ownership of his business, or discontinues his business or changes his place of business or opens a new place of his business; or

(b) discontinues or changes his factory or warehouse or opens a new factory or warehouse; or

(c) changes the name of nature of his business or effects any change in the class of classes of goods in which he carries on his business and which is or are specified in his certificate of registration; or

(d) in the case of a company, effects any change in the constitution of its board of directors; or

(e) accepts digital signature certificate issued under the Information Technology Act, 2000, or

(f) opens a new bank account or closes and existing bank account relating to the business, he shall, within the prescribed time and in the prescribed manner, inform the prescribed authority accordingly and if any such dealer dies, is legal representative shall, in the like manner, inform the said authority.

27B. Transfer of business by a registered dealer.

27B. Where the ownership of the business of registered dealer is transferred absolutely by sale, gift, bequest, inheritance or otherwise, or transferred by way of lease, and the transferee or the lessee carries on such business, either in its old name or in some other name, the transferee or the lessee shall, for all the purposes of the Act (except for the liabilities under this Act already discharged by such dealer), be deemed to be and to have always been registered (in the case of a lease for so long as the lease subsists) as safe the certificate of registration of such dealer had initially been granted to the transferee or lessee, and the transferee or the lessee shall, on application to the Commissioner, be entitled to have the certificate of registration amended accordingly.

27C. Partial transfer of business by a registered dealer.

27C. (1) Where the ownership of a part, division or unique of the business of a registered dealer is transferred by sale, gift, bequest, inheritance or otherwise, or transferred by way of a lease or licence, and if the transferee, lessee or licensee, as the case may be, carries on such business as a part of his existing business or a new business in some other name, he shall, for the purposes of this Act (except for the liabilities under this Act already discharged by the transferor for lessor or licensor, as the case may be) be deemed to be a dealer in the fourth in the matter of payment of any tax, penalty or interest payable by or due from the transferor for lessor or licensor, as the case may be, in respect of all the periods immediately preceding the date of such transferred in relation to such part, division or unit.

(2) If the transferee, lessee or licensee is a registered dealer and carries on the business referred to in sub-section (1), he shall, by an application under section 27, get his certificate of registration duly amended.

(3) If the transferee, lessee or licensee is not a dealer registered under this Act and if the terrace on business from such part, division or unit, he shall, notwithstanding anything contained in section 10, section 11, or section 14, be liable to pay tax under this Act, and be liable for registration under section 24, from the date of such transfer.

(4) Where the transferee, lessee or licensee is the deemed to be a dealer in default under sub-section (1) for any amount of tax, penalty or interest payable by, or due from, the transferor for lessor or licensor, as the case may be, such amount of tax, penalty or interest shall be recoverable from such transferee, lessee or licensee under section 55.

27D. Declaration in respect of the manager or other officers of a registered dealer.

27D. Every registered dealer shall send a declaration to such authority, within such period and in the such manner, as may be prescribed, stating the names of the manager and all officers of other designations who are responsible for ensuring compliance with any requirement made of such dealer under this Act, and in the event of any change of such manager or other officers, the dealer shall send a revised declaration in the like manner to the said authority within such time as may be prescribed.

27E. Penalty for contravention of the provisions of sections 27A, 27B, 27C, or 27D.

27E. Where a dealer fails to furnish the information as referred to in section 27A, section 27B, section 27C, or section 27D within such time as may be prescribed, the Commissioner may, after giving the dealer an opportunity of being heard, by an order in writing, impose upon such dealer by way of penalty a sum not exceeding five thousand rupees in such manner as may be prescribed.