Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

GST on sale of ongoing concern without movement of goods, Goods and Services Tax - GST

Issue Id: - 117738
Dated: 28-12-2021
By:- Kaustubh Karandikar

GST on sale of ongoing concern without movement of goods


  • Contents

XYZ (Proprietory Concern) has sold its entire business to PQR Pvt. Ltd. under slump sale of ongoing concern arrangement i.e., transfer of a whole of business concern as a going concern. There will not be any physical movement of goods from XYZ to PQR and therefore no GST payment by XYZ. The premises of XYZ will be declared as additional place of business by PQR. XYZ will not be surrendering the GST Registration till all the required returns are not filed under GST. PQR will in the meantime start using the goods lying in the premises of XYZ. Is this in line with the provisions of GST?

Posts / Replies

Showing Replies 1 to 2 of 2 Records

Page: 1


1 Dated: 29-12-2021
By:- Shilpi Jain

This should be fine.


2 Dated: 26-1-2022
By:- CAHemanth Kumar

Also consider that since supply is exempt from GST, we need to comply with the requirement of common credit reversal under rule 42.

Specific services take for business transfer like due diligence- complete credit is ineligible.

Common credit if any- need to do rule 42 reversal


Page: 1

Old Query - New Comments are closed.

Quick Updates:Latest Updates