Tax as first charge on property takes priority over other laws except under the insolvency regime. Any amount payable by a taxable person to the Government on account of tax, interest or penalty shall be a first charge on that person's property, ... Summary
Tax as first charge on property takes priority over other laws except under the insolvency regime.
Any amount payable by a taxable person to the Government on account of tax, interest or penalty shall be a first charge on that person's property, notwithstanding any other law for the time being in force, except as otherwise provided by the Insolvency and Bankruptcy Code, 2016.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.