https://www.taxtmi.com/forum/issue?id=118739 If the lump-sum consideration is not allocated to individual assets, the transfer qualifies as a slump sale and the consideration for the business transfer is taxable as capital gains under the capital-gains computation regime; slump sales are outside GST (exempt). Separate amounts labeled as compensation for business losses or as service charges should be treated as business income and may be set off against carry-forward losses, while service charges can attract GST with input tax credit implications for the purchaser. en-us Thu, 07 Sep 2023 10:23:38 +0530 Thu, 23 Jan 2025 14:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118739 If the lump-sum consideration is not allocated to individual assets, the transfer qualifies as a slump sale and the consideration for the business transfer is taxable as capital gains under the capital-gains computation regime; slump sales are outside GST (exempt). Separate amounts labeled as compensation for business losses or as service charges should be treated as business income and may be set off against carry-forward losses, while service charges can attract GST with input tax credit implications for the purchaser. Discussion-Forum Income Tax Thu, 07 Sep 2023 10:23:38 +0530 https://www.taxtmi.com/forum/issue?id=118739