State with brief reasons whether the following are to be treated as supply of goods/services, as per GST law: Transfer of business as a going concern.
CS Executive · Tax Laws · PYQS · December 2018
State with brief reasons whether the following are to be treated as supply of goods/services, as per GST law: Transfer of business as a going concern.
Answer & Explanation:
Transfer of business as a going concern is not supply of goods/services and hence not liable for GST as per Schedule II of CGST Act, 2017.
Topics: GST Law
Related Questions in this Topic
- Sun Trading Company, an eligible registered dealer in goods making intra-State supplies within the State of Rajasthan ha...
- Sun Trading Company, an eligible registered dealer in goods making intra-State supplies within the State of Rajasthan ha...
- Samodia Trading Company, a registered supplier, is liable to pay GST under forward charge mechanism. Determine the time ...
- True Sai Cars Pvt. Ltd., Tamil Nadu is a dealer in cars. They import cars from abroad and sell it to customers in India....
- Explain the meaning of the term "Pure agent" for CGST purposes.