GST Payable on Services by way of transfer of a going concern: AAR

In re Rajashri Foods Pvt. Ltd. (AAR Karnataka) The transaction of transfer of business as a whole of one of the units of the Applicant in the nature of a going concern amounts to supply of service. The transaction of transfer of one of the units of the Applicant as a going concern is covered under SI. No.2 of the Notification No. 12/2017- Central Tax (Rate) dated 28th June, 2017 subject to the condition that the unit is a going concern. FULL TEXT OF ADVANCE RULING M/s Rajashri Foods Private Ltd., (hereinafter referred to as ‘Applicant’) holding GSTIN number 29AAACR6946B1ZC, having ...