Category: GST Article

Gist of GST Articles

ArticleGST Article

Transfer of Specific Unit as a Going Concern via Slump Sale is Exempt Under GST

byCA Bimal Jain

The Gujarat AAR in the matter of RDB Realty & Infrastructure Limited held that the supply made as a going concern by way of slump sale is classified under SAC 997119 and is exempt under Notification No. 12/2017-CT (Rate). The Authority refrained from answering whether the sale is classified as “Slump Sale” as the term is not defined under GST but recognized the transaction as a transfer of business with GST implications.

ArticleGST Article

Mandatory Requirement of Written ‘Reasons to Believe’ Under Rule 86A for Blocking Input Tax Credit (ITC)

byCA Bimal Jain

The Hon’ble Allahabad High Court in the case of Pilcon Infrastructure Pvt. Ltd. held that blocking of Input Tax Credit under Rule 86A of the U.P. GST Rules without recording specific, written ‘reasons to believe’ linking the assessee to fraudulent transactions is without jurisdiction and illegal, emphasizing that mere reliance on ex parte communications or generic alerts from DGGI does not fulfil the statutory requirement.