GST on transfer of independent part of business pertaining to a mobile software

In re Capfront Technologies Pvt. Ltd (GST AAR Karnataka) AAR held that transfer of independent part of business pertaining to ‘Loan Front’ app, a mobile software, qualifies to be a transfer of going concern, and the said activity amounts to ‘Service by way of transfer of going concern as an independent part’ and thus is exempted from GST in terms of Sl. no.2 of the Notification No.12/2017-Central Tax (Rate) dated 28.06.2017, as amended. FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, KARNATAKA M/s. Confront Technologies Private Limited (herein after referred to...