Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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The AAR concluded that the proposed transfer of the specific construction-unit by the Applicant to the Transferee constitutes a transfer of a business/going concern rather than addressing the undefined concept of "slump sale." The supply, when characterized as a going concern, falls under SAC 997119 and ordinarily attracts GST at 18%, but is exempt under Notification No.12/2017-CT (Rate) (Entry No.2) because it is a transfer of a going concern as a whole/an independent part. No successive transfers undermine exemption eligibility. Contractual performance obligations and surety to the municipal authority remain enforceable and civil/contractual penalties may arise for any post-transfer non-performance.
The AAR concluded that the proposed transfer of the specific construction-unit by the Applicant to the Transferee constitutes a transfer of a business/going concern rather than addressing the undefined concept of "slump sale." The supply, when characterized as a going concern, falls under SAC 997119 and ordinarily attracts GST at 18%, but is exempt under Notification No.12/2017-CT (Rate) (Entry No.2) because it is a transfer of a going concern as a whole/an independent part. No successive transfers undermine exemption eligibility. Contractual performance obligations and surety to the municipal authority remain enforceable and civil/contractual penalties may arise for any post-transfer non-performance.
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