i) Whether Sale of Karnataka Hotel as going concern on slump sale basis can be construed to be “Supply” in terms of Section 7(1) of the CGST Act 2017? If answered in affirmative, whether the transaction would be regarded as supply of goods or supply of service?
ii) Whether the said transaction can be construed as ‘Service by way of transfer of going concern as whole or an independent part there on under Sl.No.2 of the Notification No .12/2017 –Central Tax(Rate) dated 28-06-2017 or No.9/2017-Integrated Tax (Rate) dated 28-06-2017 or Notification (12/2017)NO FD 48 CSL 2017, Dated 29-06-2017 ?.
But the Applicant Company requested to permit them to withdraw the application filed for advance ruling vide their letter dated 06-05-2019.