Tax as first charge on property prioritises recovery of tax, interest and penalty over other claims except insolvency proceedings. Amounts payable to the Government by a taxable person for tax, interest or penalty constitute a first charge on that person's property, overriding other ... Summary
Tax as first charge on property prioritises recovery of tax, interest and penalty over other claims except insolvency proceedings.
Amounts payable to the Government by a taxable person for tax, interest or penalty constitute a first charge on that person's property, overriding other laws except as provided by the Insolvency and Bankruptcy Code, and thereby establishing priority for recovery of GST liabilities.
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