GST on sale of ongoing concern, Goods and Services Tax - GST

[Kaustubh Karandikar]

1) A Foreign Company is buying a major stake in XYZ(India) under slump sale of ongoing concern arrangement i.e., transfer of a whole of business concern as a going concern.

2) Against this transfer, XYZ will be getting from the foreign company an amount of approx. ₹ 100 Crores. Whether XYZ is required to pay GST on this transaction either under forward charge or reverse charge? In my view it is exempted under Sr.No.2 of Notification No.12/2017- Central Tax (Rate) dt. 28.06.2017 as amended. Views of the experts please.

Posts / Replies

[Shilpi Jain]

Same as in Issue id: - 117702