https://www.taxtmi.com/forum/issue?id=117702 Whether GST applies to a slump sale of a whole business as a going concern and whether input tax credit must be reversed is debated. One position treats the transfer as an exempt supply under the notification, requiring proportionate ITC reversal under Rule 42 and issuance of a bill of supply; the alternate position treats the transfer as not a supply under Schedule III, in which case no reversal or GST levy arises. en-us Thu, 16 Dec 2021 12:06:25 +0530 Thu, 23 Jan 2025 15:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117702 Whether GST applies to a slump sale of a whole business as a going concern and whether input tax credit must be reversed is debated. One position treats the transfer as an exempt supply under the notification, requiring proportionate ITC reversal under Rule 42 and issuance of a bill of supply; the alternate position treats the transfer as not a supply under Schedule III, in which case no reversal or GST levy arises. Discussion-Forum GST Thu, 16 Dec 2021 12:06:25 +0530 https://www.taxtmi.com/forum/issue?id=117702