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Tax liability of businesses transfer under gst
A sold his business to B for an amount of Rs 20 lakh. is A liable to collect gst tax from B? According to schedule Transfer of businesses is supply of goods. plz explain tax liability if transferer is a composition dealer or regular dealer.
Replies (2)
As per Entry 2 of exemptions, transfer of business by way ofgoing concern is exempt from GST. Therefore not taxable provided transfer of a going concern
thank you sir. thank you.
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