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.
