Tax as first charge on property establishes government priority over a taxable person's assets for GST recovery. Tax liabilities under the GST regime constitute a first charge on property of the taxable person or other liable person, giving priority to amounts payable for tax, interest or penalty as a statutory charge against that person's assets, subject only to the insolvency exception.
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.
Tax as first charge on property establishes government priority over a taxable person's assets for GST recovery.
Tax liabilities under the GST regime constitute a first charge on property of the taxable person or other liable person, giving priority to amounts payable for tax, interest or penalty as a statutory charge against that person's assets, subject only to the insolvency exception.
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