Shiv Sankara Health Care Enterprises ., In re
Date: March 16, 2021
Subject Matter
GST on goodwill paid to the partners at the time of retirement. Application withdrawn
Summary
Q. Whether the goodwill paid to the partners at the time of retirement is liable to be taxed under GST Act. A. The issue on the applicability of GST on the ‘Goodwill’ extended by the applicant to the retiring partners can be arrived at on…
At the outset, we would like to make it clear that the provisions of both the Central Goods and Service Tax Act and the Tamil Nadu Goods and Service Tax Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the Central Goods and Service Tax Act would also mean a reference to the same provisions under the Tamil…