First charge on property secures GST liabilities, giving tax, interest, and penalty dues statutory priority subject to insolvency law. Any amount payable by a taxable person or any other person on account of tax, interest or penalty is a first charge on the property of such person, notwithstanding anything to the contrary in any other law. This priority applies to Government dues under the GST framework, subject only to the exception provided by the Insolvency and Bankruptcy Code, 2016.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
First charge on property secures GST liabilities, giving tax, interest, and penalty dues statutory priority subject to insolvency law.
Any amount payable by a taxable person or any other person on account of tax, interest or penalty is a first charge on the property of such person, notwithstanding anything to the contrary in any other law. This priority applies to Government dues under the GST framework, subject only to the exception provided by the Insolvency and Bankruptcy Code, 2016.
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