Transfer of Construction Project via Slump Sale Treated as ‘Going Concern’- GST Exempt

In re RDB Realty & Infrastructure Limited (AAR Gujarat) The Authority for Advance Ruling (AAR), Gujarat, ruled on the transaction proposed by RDB Realty & Infrastructure Limited concerning the transfer of its rights in a specific real estate project. The AAR held that the transfer of the Surat-based redevelopment project, along with all its assets and liabilities, qualifies as a “transfer of a going concern” and is therefore exempt from the Goods and Services Tax (GST). The Transaction and Core Issue RDB Realty & Infrastructure Limited was awarded a tender by the Surat ...