First charge on property: tax claims rank as a first charge, but insolvency law prevails in conflicts. Section 82 of the CGST Act makes amounts payable for tax, interest or penalty a first charge on the taxpayer's property, creating a priority claim for recovery; where Section 82 conflicts with the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Code prevails.
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Provisions expressly mentioned in the judgment/order text.
First charge on property: tax claims rank as a first charge, but insolvency law prevails in conflicts.
Section 82 of the CGST Act makes amounts payable for tax, interest or penalty a first charge on the taxpayer's property, creating a priority claim for recovery; where Section 82 conflicts with the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Code prevails.
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