Supply Includes Without Consideration - Para 1 of Schedule I Read with Section 7(1)(c)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e CGST Act contain the certain activities or transaction specified in, made or agreed to be made without a consideration, have also been include in the definition of "Supply". Para 1 - Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. * "Permanent Transfer" implies that the goods should be transferred without any intent....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....entire business as a going concern cannot be subject to GST. As per Education Guide issued as 12th Jun 2012 define the meaning of the term 'transfer of a going concern' As per para 7.11.15 - Transfer of a going concern means transfer of a running business which is capable of being carried on by the purchaser as an independent business, but shall not cover mere or predominant transfer of....