Dear Experts please advise on below points : - How to continue running business if the sole proprietor dies without any will under new GST regime? -Is there any process which allows to continue running business before transferring the proprietorship to legal heirs as the process might take time and there are chances that business might not survive in such circumstances which will be a big loss to both customer and creditors? -Do the liability is transferred to Legal heirs automatically if the sole proprietor dies and what steps to be taken by legal heirs to safeguard themselves against the liability transferred if the business was in loss at the time of death. -what if legal heirs decide not to transfer the proprietorship? -Is there a way to continue the business fulfilling current pending orders and pay 80% liabilities of the business and then close the business.This way both creditors and customers will be safeguarded against heavy losses.
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