Case Law Details
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 as `Applicant), # 1, 2nd Floor, Old Airport Services Road, Domlur Layout, Bengaluru 560 071, having GSTIN 29AAHCC8732D1ZK, have filed an application for Advance Ruling under Section 97 of CGST Act, 2017 read with Rule 104 of CGST Rules, 2017 and Section 97 of KGST Act, 2017 read with Rule 104 of KGST Rules, 2017,
in form GST ARA-01 discharging the fee of Rs.5,000/- each under the CGST Act, KGST Act.
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