Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
