Business cannot be treated transferred as going concern if liabilities not transferred

In re SCV Sky Vision (GST AAR Andhra Pradesh) Whether Sl.No.2 of the Notification No. 12/2017–Central Tax (Rate) dated June 28th, 2017 (‘Service Exemption Notification’) granting exemption to ‘Services by way of transfer of a going concern as a whole or an independent part thereof’ is applicable on the business transfer undertaken in the present instance? it is noticed that the applicant’s Business as MSO sought to be sold is in functioning state and the transaction by virtue of the Business Transfer Agreement contemplates the sale of business to the purchaser, except any of th...