Tax as first charge on property creates government priority for recovery, subject to insolvency law exception. Tax liabilities, including tax, interest and penalty, constitute a first charge on the taxable person's property, taking priority over any other law, ... Summary
Tax as first charge on property creates government priority for recovery, subject to insolvency law exception.
Tax liabilities, including tax, interest and penalty, constitute a first charge on the taxable person's property, taking priority over any other law, except as otherwise provided under the Insolvency and Bankruptcy Code, 2016.
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