Pure-service exemption for municipal sanitation manpower requires an identifiable qualifying municipal-function supply, leaving non-exempt outsourcing...
Higher depreciation for mining dumpers applies when composite contracts require transportation services, rather than merely incidental internal vehicl...
Knowledge requirement for customs penalties: unverified retracted statements could not establish cigarette-related liability, while goods were release...
Clean slate principle does not extinguish GST liabilities when a corporate debtor is sold as a going concern in liquidation. Such a sale transfers identified assets and liabilities as a single package, preserves the corporate identity, and requires the purchaser or new management to assume pre-existing, current and moratorium-period liabilities. The statutory priority for distribution of realised liquidation assets does not apply to a going-concern sale. GST demand proceedings require fresh adjudication where no effective reply was filed and transfer-of-business liability requires consideration, subject to a 25% deposit of disputed tax and a detailed reply.
Clean slate principle does not extinguish GST liabilities when a corporate debtor is sold as a going concern in liquidation. Such a sale transfers identified assets and liabilities as a single package, preserves the corporate identity, and requires the purchaser or new management to assume pre-existing, current and moratorium-period liabilities. The statutory priority for distribution of realised liquidation assets does not apply to a going-concern sale. GST demand proceedings require fresh adjudication where no effective reply was filed and transfer-of-business liability requires consideration, subject to a 25% deposit of disputed tax and a detailed reply.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4937 
