Common Contracts
2 similar Business Transfer Agreement contracts
ContractBusiness Transfer Agreement • March 24th, 2023
Whether the transaction of transfer/sale of one of the independent running business divisions of the Applicant, namely, "business of providing/supplying of engineering services primarily relating to semiconductor services" as a whole, along with all the assets and liabilities of the independent business division on a going concern basis, in terms of business transfer agreement dated 27.06.2022, entered into by the Applicant with M/s Tessolve Semiconductor Private Limited constitutes a transaction of "supply" under Section 7 of the CGST/ SGST Acts? HELD Answered in Affirmative (2) If, the answer to the above question/point is in affirmative, whether the transaction constitutes supply of taxable goods or taxable services or both? And would be the time of supply, value of supply and rate of tax applicable to such supply? HELD The transaction constitutes supply of taxable services, the time of supply has to be determined in terms of Section 13 of the CGST Act 2017, the value of supply need
ContractBusiness Transfer Agreement • March 24th, 2023
Whether the transaction of transfer/sale of one of the independent running business divisions of the Applicant, namely, "business of providing/supplying of engineering services primarily relating to semiconductor services" as a whole, along with all the assets and liabilities of the independent business division on a going concern basis, in terms of business transfer agreement dated 27.06.2022, entered into by the Applicant with M/s Tessolve Semiconductor Private Limited constitutes a transaction of "supply" under Section 7 of the CGST/ SGST Acts? HELD Answered in Affirmative (2) If, the answer to the above question/point is in affirmative, whether the transaction constitutes supply of taxable goods or taxable services or both? And would be the time of supply, value of supply and rate of tax applicable to such supply? HELD The transaction constitutes supply of taxable services, the time of supply has to be determined in terms of Section 13 of the CGST Act 2017, the value of supply need
