https://www.taxtmi.com/forum/issue?id=117735 Transfer of an entire business as a going concern attracts the unconditional exemption under Notification No. 12/2017, so the sale consideration and goods forming part of the business assets (capital goods, raw/packing materials and finished goods) are not subject to GST. Where the business transfer qualifies as a going concern, the deemed-supply rule on cessation does not apply; the transaction should be documented as an exempt supply by issuing a bill of supply (not a tax invoice) and complying with applicable procedural requirements such as rule 42. en-us Tue, 28 Dec 2021 10:04:43 +0530 Thu, 23 Jan 2025 15:54:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117735 Transfer of an entire business as a going concern attracts the unconditional exemption under Notification No. 12/2017, so the sale consideration and goods forming part of the business assets (capital goods, raw/packing materials and finished goods) are not subject to GST. Where the business transfer qualifies as a going concern, the deemed-supply rule on cessation does not apply; the transaction should be documented as an exempt supply by issuing a bill of supply (not a tax invoice) and complying with applicable procedural requirements such as rule 42. Discussion-Forum GST Tue, 28 Dec 2021 10:04:43 +0530 https://www.taxtmi.com/forum/issue?id=117735