Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central Excise Act, 1944 does not provide for a first charge on the assessee's property, giving priority to secured creditors' dues over excise dues. However, in the case of Sales Tax and VAT, the Supreme Court ruled that the State is a secured creditor under the Insolvency and Bankruptcy Code, 2016. The Debt Recovery Tribunal correctly dismissed the objections raised by the company regarding the order of attachment for recovery of dues by attaching properties, considering the legal position on priority of dues.
Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central Excise Act, 1944 does not provide for a first charge on the assessee's property, giving priority to secured creditors' dues over excise dues. However, in the case of Sales Tax and VAT, the Supreme Court ruled that the State is a secured creditor under the Insolvency and Bankruptcy Code, 2016. The Debt Recovery Tribunal correctly dismissed the objections raised by the company regarding the order of attachment for recovery of dues by attaching properties, considering the legal position on priority of dues.
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