TaxTMI 
TaxTMI 
TaxTMI 
Facts of the case:
1. The applicant business has been closed for 10 years and it was registered under West Bengal VAT Act, 2003. It did not file REG-26 and thus, did not migrate to GST.
2. NCLT has appointed a liquidator and after the appointment all powers of directors in decision making are vested in liquidator u/s 34(2) of IBC.
3. Plant and machinery, office equipment and furniture sold auctioned u/s 32(c) of IBC for ₹ 2.82crores.
Ruling by authority:
1. As per S. No.4(a) of Schedule II of the GST Act, sale of assets as mentioned above is considered as supply.
2. For HSN and tax rate on the goods sold N/No.01/2017 -CT(Rate) dated 28.06.2017 shall be referred.
3. The liquidator is required to take registration u/s 24 of GST Act in abeyance of N/No.11/2020 dated 21.03.2020. Once an insolvency professional takes registration as the authorized person of the corporate debtor, it remains in effect with suitable amendment in the certificate of registration if the status or person of the authorized person gets changed (refer to Circular No.138/08/2020 – GST dated 06/05/2020).