Transfer of a going concern exempt from service tax; sale of a running business is not taxable under the exemption.

Services by way of transfer of a going concern are exempt from service tax when a running business, as a whole or an independent part, is transferred so the purchaser can carry it on independently; sale of assets of a closed business falls outside this definition. The exemption covers comprehensive transfers including immovable property, goods, unexecuted orders, employees and goodwill, and does not apply to mere or predominant transfers of an activity comprising a service.

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