GST on Transfer of business as going concern

By | January 12, 2018
(Last Updated On: January 12, 2018)

GST on Transfer of business as going concern

Mr. Ram, a sole proprietor has transferred all assets and liabilities of his business carried on under the name and style of Ram Interiors as a going concern to M/s XYZ Private Limited . Is Mr A liable to pay GST on this transfer of business ?

There is NIL GST on

“ Services by way of transfer of a going concern, as a whole or an independent part thereof.”

[ Entry No 2 of NOTIFICATION NO. 12/2017 – CENTRAL TAX (RATE) DATED 28-6-2017 ]

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