GST not applicable on transfer of Jaipur Int'l airport biz to Adani group

The transfer of Jaipur international airport operations by Airports Authority of India (AAI) to the Adani group is exempt from Goods and Services Tax (GST), the Authority for Advance Ruling has said. The AAI had approached the Rajasthan-bench of the Authority for Advance Ruling (AAR) seeking ruling on whether transfer of business to M/s Adani Jaipur International Airport Ltd is treated as supply as 'going concern' and whether GST is leviable on transfer of assets. Transfer of business as a going concern, as a whole, or independent part thereof, is considered as service under GST law and such supplies are exempt from goods and services tax. In its ruling dated March 20, 2023, the AAR said the business arrangement entered vide concession agreement dated January 16, 2021, between the applicant (AAI) and M/s Adani Jaipur International Airport is a transfer of going concern. The Adani Group had in October, 2021, taken over the operations, management and development of the Jaipur ...

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