Going-concern transfers receive GST exemption only on proof; otherwise business assets and stock are taxable supplies of goods.

Going-concern transfers receive GST exemption only on proof; otherwise business assets and stock are taxable supplies of goods.
Case-Laws
GST
Transfer of an entire partnership business to a company without consideration may fall within GST supply, notwithstanding its occurrence outside the ordinary course of business. A transfer of a business undertaking as a going concern is classified as a supply of services rather than goods. The going-concern exemption applies only where the business, as a whole or independent part, satisfies that factual condition, requiring supporting evidence. If it does not qualify, the going-concern exception is unavailable and transferred stock and business assets are treated as taxable supplies of goods on cessation, at applicable rates.
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