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of <h1>Assam Government Clarifies GST Rules for Corporate Insolvency: Operational Debts and Compliance During CIRP Explained.</h1> The circular issued by the Government of Assam provides clarifications on GST issues for companies undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. It specifies that GST dues prior to the insolvency commencement date are treated as operational debt, and no coercive action can be taken for these dues. GST registration should not be canceled during CIRP, and a new registration is required for the corporate debtor. The Interim Resolution Professional (IRP) or Resolution Professional (RP) is responsible for GST compliance post-CIRP commencement. The circular also outlines procedures for availing Input Tax Credit (ITC) and refund claims during CIRP.
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