Held - It could be inferred from Section 7 (1) (a) of the CGST Act 2017, that for any activity to qualify as supply under the said Act it should sa.....

Held - To qualify as a ‘going concern’, the business must not have ‘intention or necessity of liquidation or of curtailing materially the sca.....

Held - We further note that Schedule II (4) CGST Act stipulates whether the transactions with respect to 'Transfer of Business Assets' to be treate.....

Held - To qualify as a ‘going concern’, the business must not have ‘intention or necessity of liquidation or of curtailing materially the sca.....

Held - Transfer of a going concern means transfer of a running business which is capable of being carried on by the purchaser as an independent bus.....

Held - Going concern is not included in the GAAP (Generally Accepted Accounting Principles) but included in the GAAS (Generally Accepted Auditing S.....