Vat on mergers

I want to know that  there are two foreign entities merging and one of them has assets in India, so would VAT be applicable to this transaction. As per the research what I have done it looks like VAT is not imposed on 'sale of business as a going concern' or 'slump sale' but in this case it is a MERGER not a sale of business. I would be glad if someone could answer it with relevant provisions or case laws. Thanks !!