Slump Sale, Liquidation Damages, Job Work: Three Key Precedents As GST Turns One

Slump Sale: Supply Of Goods Or Service? In Rajashri Foods’ case, the Karnataka AAR was asked to determine whether sale of a business unit—on a going concern basis—would attract goods and services tax as sale of goods or supply of service. Going concern means a business that can sustain its operations in the near term and doesn’t face a threat of liquidation. The authority pointed to the Central GS…