GST on Transfer of business as going concern
Mr. Ram, a sole proprietor has transferred all assets and liabilities of his business carried on under the name and style of Ram Interiors as a going concern to M/s XYZ Private Limited . Is Mr A liable to pay GST on this transfer of business ?
There is NIL GST on
“ Services by way of transfer of a going concern, as a whole or an independent part thereof.”
[ Entry No 2 of NOTIFICATION NO. 12/2017 – CENTRAL TAX (RATE) DATED 28-6-2017 ]
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