transfer of asset

As per  schedule I  (section 7 )  of CGST act  2017 ,  permanent  transfer  of Business assets  where  input  tax  credit  has been  availed  on such  asset   even without  consideration  will be treated as supply  and GST  applicable . 

please confirm with  others also. 

agreed with above view. it will be subjected to GST as per schedule I. charge gst and claim ITC for the new entity

Abhishek,
Although as per schedule I, permanent transfer of business assets is supply
but as per serial number 2 of notification 12/2017, the sale of running business (going concern) is exempted.
so if the your new entity is having a separate legal identity and the business is going concern then such supply shall be exempted.