Airports Authority's Business Transfer to SPV Classified as Going Concern, Exempt from GST under Notification 12/2017-CT(R.

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Full Text of the Document

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....Supply or not - transfer of business - going concern or not - Business may be covered under the umbrella of the definition of Service, in accordance to Section 2(102) CGST Act and the activity of transfer of business is in the nature of supply. - the business arrangement between AAI and SPV vide Concession Agreement dated 16.01.2021 is squarely covered under transfer of going concern. - the transfer of business by Airports Authority of India to M/s AJAIL (SPV) is transfer of a 'going concern' and the same is not covered in clause 4 of schedule II of CGST Act. - The subject Supply is covered at Entry No. 2 of Notification 12/2017-CT(R) - Exempted from GST - AAR....