Exemption from GST — In the instant case, applicant is seeking an advance ruling on whether “Business Transfer Agreement” as a going concern which consists of transferring under-construction project is covered under serial no. 12 of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 and thus exempted from the applicability of GST. Held that— we hold that transfer of Business in question shall be treated as a going concern and is exempted from GST as on date in terms of serial no. 2 of Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017.

Rajeev Bansal And Sudershan Mittal, In Re... [2020] 20 TAXLOK.COM 140 (AAR-Uttarakhand)