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TMI Blog2020 (4) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... ays from the date of service of this order. RULING 1. This is an application under Sub-Section (1) of Section 97 of the CGST/SGST Act, 2017 (herein after referred to as Act) and the rules made thereunder filed by M/s. Rajeev Bansal & Sudershan Mittal, 789, 1st Floor Awas Vikas Ranipur More, Hardwar, Uttarakhand seeking an advance ruling on whether "Business Transfer Agreement" as a going concern which consists of transferring under-construction project is covered under serial no. 12 of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (herein after referred to as "said notification") and thus exempted from the applicability of GST. 2. Advance Ruling under GST means a decision provided by the authority or the appellate auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n behalf of the applicant appeared for personal hearing on the said date and submitted that the written submissions to be taken on record. 6. From the record we find that applicant is registered in Uttarakhand with GSTIN bearing no. 05AARFR4816L2ZO. The submissions of the applicant are summarized as under: (i) That the applicant is a partnership firm engaged in the business of constructing residential/ commercial complexes. (ii) That the firm was formed for constructing and selling a residential/ commercial building at village- Manoharpur, Jwalapur, Hardwar. (iii) That the applicant got the map approved from the competent authority. (iv) That the covered area was around 1.25 lakhs sq feet. A total carpet area of 85 thousan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts the intra-State supply of services of description as specified in column (3) of the Table below from so much of the central tax leviable thereon under sub-section (1) of section 9 of the said Act, as is in excess of the said tax calculated at the rate as specified in the corresponding entry in column (4) of the said Table, unless specified otherwise, subject to the relevant conditions as specified in the corresponding entry in column (5) of the said Table, namely:- Sl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s under: Section 2(17) of the Act "business" includes- (a) any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity, whether or not it is for a pecuniary benefit; (b) any activity or transaction in connection with or incidental or ancillary to sub-clause (a); (c) any activity or transaction in the nature of sub-clause (a), whether or not there is volume, frequency, continuity or regularity of such transaction; (d) supply or acquisition of goods including capital goods and services in connection with commencement or closure of business; (e) provision by a club, association, society, or any such body Cor a subscription or any other consideration) of the facilities or benefits to it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The purchaser intends to use the assets to carry on the same kind of business as the seller c. Where only part of a business is sold it must be capable of separate operation e. There must not be a series of immediately consecutive transfers 7.6 From the record we find that the applicant is carrying on the business of constructing residential/commercial complexes and selling thereof and the applicant firm come into existence particularly for the said project. Further on perusal of the sale deed dated 24.10.2019, we find that the applicant has sold the under-construction building, as a whole, situated at village- Manoharpur, Pargana-Jwalapur, District-Hardwar with its all assets and transfer the rights of the same to the buyer inclu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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