Transfer of going concern exemption shields services that preserve business continuity from GST treatment as asset sales. Services consisting of the transfer of a going concern, whether as the whole undertaking or an independent part thereof, are exempt from GST, treating such transfers as non-taxable services under the schedule framework when the supply preserves business continuity rather than constituting mere sale of assets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of going concern exemption shields services that preserve business continuity from GST treatment as asset sales.
Services consisting of the transfer of a going concern, whether as the whole undertaking or an independent part thereof, are exempt from GST, treating such transfers as non-taxable services under the schedule framework when the supply preserves business continuity rather than constituting mere sale of assets.
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