Question ID : 24226

Slump Sale

Shecule II excludes transfer of a business as a Gong Concern from being treated as Transfer. This means Slump Sale shall not attract GST. But FAQ 70 on applicability of GST on Slump Sale, the dept has answered that it shall be treated as any other normal supply. The CGST Act - Schedule II clause 4(c) (i) (ii) provide exclusion from GST applicable. Request clarity