https://www.taxtmi.com/caselaws?id=432331 AAR West Bengal ruled that transfer of proprietorship business to partnership firm constitutes supply of services, not goods, under GST. The Authority determined business cannot be classified as movable property to qualify as goods under GST Act section 2(52). Since anything other than goods, money and securities falls under services definition, the transaction qualifies as service supply. The transfer would be covered under Notification No. 12/2017-Central Tax (Rate) Serial No. 2, subject to meeting going concern conditions. However, AAR could not conclusively determine going concern status due to insufficient auditor comments regarding entity's ability to continue operations for foreseeable future. en-us Thu, 22 Dec 2022 00:00:00 +0530 Sat, 12 Apr 2025 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432331 AAR West Bengal ruled that transfer of proprietorship business to partnership firm constitutes supply of services, not goods, under GST. The Authority determined business cannot be classified as movable property to qualify as goods under GST Act section 2(52). Since anything other than goods, money and securities falls under services definition, the transaction qualifies as service supply. The transfer would be covered under Notification No. 12/2017-Central Tax (Rate) Serial No. 2, subject to meeting going concern conditions. However, AAR could not conclusively determine going concern status due to insufficient auditor comments regarding entity's ability to continue operations for foreseeable future. Case-Laws GST Thu, 22 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432331