Goods and Services Tax Act 1993 · 2020 Revised Edition · Part 6 · Special Cases
34. Transfers of going concerns
Feedback & supportWhere a business carried on by a taxable person is transferred to another person as a going concern, then —
business
“business” includes any trade, profession or vocation.(2) Without limiting anything else in this Act, the following are deemed to be the carrying on of a business:(a)the provision by any club, association, society, management corporation or organisation (for a subscription or other consideration) of the facilities or advantages available to its members or subsidiary proprietors, as the case may be;(b)the admission, for a consideration, of persons to any premises.(3) Where a body has objects which are in the public domain and are of a political, religious, philanthropic or patriotic nature, it is not to be treated as carrying on a business only because its members subscribe to it, if a subscription obtains no facility or advantage for the subscriber other than the right to participate in its management or receive reports on its activities.(4) Where a person, in the course or furtherance of a trade, profession or vocation, accepts any office, services supplied by the person as the holder of that office are treated as supplied in the course or furtherance of the trade, profession or vocation.(5) Anything done in connection with the termination or intended termination of a business is treated as being done in the course or furtherance of that business.(6) Subject to any order made under section 10(3), the disposition of a business as a going concern, or of its assets or liabilities (whether or not in connection with its re-organisation or winding up), is a supply made in the course or furtherance of that business.(7) In subsection (2),
for the purpose of determining whether the transferee is liable to be registered under this Act, the transferee is treated as having carried on the business before as well as after the transfer, and supplies by the transferor are treated accordingly; and
any records relating to the business which under section 46 are required to be preserved for any period after the transfer must be preserved by the transferee instead of by the transferor, unless the Comptroller, at the request of the transferor, otherwise directs.
Comptroller
“Comptroller” means the Comptroller of Goods and Services Tax appointed under section 4 and includes for all purposes of this Act, except the exercise of the powers conferred upon the Comptroller by section 5(2), a Deputy Comptroller or an Assistant Comptroller;