SLUMP SALE

Slump sale means the transfer of one or more business undertakings as a result of sale for consideration without assigning values to individual assets and liabilities.

A business undertaking can be treated as a capital asset under the Income Tax Act. Therefore, a sale of undertaking attracts capital gain tax.
INCOME TAX LAWS:
Under Tax laws, slump sale is considered under the capital gain tax.

GST LAW:
GST is not applicable if a business is sold on a going concerned basis, but if it is sold as item wise then GST shall be applicable on sale.

STAMP DUTY:

Stamp Duty is payable on Instrument of transfer, so pay stamp duty as per individual item as per state laws.

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