Tax Debts Take Priority: Government's First Charge on Property Under Himachal Pradesh GST Act, 2017 Except IBC 2016.
Under the Himachal Pradesh Goods and Services Tax Act, 2017, any tax, interest, or penalty owed by a taxable person to the government is considered a first charge on the person's property. This provision takes precedence over any conflicting laws, except as specified in the Insolvency and Bankruptcy Code, 2016. This means that the government has priority in claiming the property of a person who owes taxes, ensuring that such debts are settled before other claims.
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