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- Whether transfer of independent part of business as going concern is exempt from GST ?
Whether transfer of independent part of business as going concern is exempt from GST ?
TRT-2026-1039
Issue Favourable to Tax Payer ?:- yes
Held - A going concern is a concept of accounting and applies to the business of the company as a whole. Transfer of a going concern means transfer of a running business which is capable of being carried on by the purchaser as an independent business, Such transfer of business as a whole will comprise comprehensive transfer of immovable property, goods and transfer of unexecuted orders, employees, goodwill etc. In the instant case, the Applica.....
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