https://www.taxtmi.com/article/detailed?id=8507 The article addresses whether statutory dues such as income tax and VAT constitute operational debt under the Insolvency and Bankruptcy Code. It explains that section 5(21) uses a disjunctive structure distinguishing commercial claims for goods or services from "a debt in respect of the payment of dues arising under any law" payable to government authorities. Because statutory liabilities arise while a company is operational and have a direct nexus with its going concern status, such dues fall within the definition of operational debt and government revenue departments qualify as operational creditors. en-us Sat, 18 May 2019 06:34:25 +0530 Sat, 18 May 2019 06:34:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8507 The article addresses whether statutory dues such as income tax and VAT constitute operational debt under the Insolvency and Bankruptcy Code. It explains that section 5(21) uses a disjunctive structure distinguishing commercial claims for goods or services from "a debt in respect of the payment of dues arising under any law" payable to government authorities. Because statutory liabilities arise while a company is operational and have a direct nexus with its going concern status, such dues fall within the definition of operational debt and government revenue departments qualify as operational creditors. Articles Value Added Tax - VAT and CST Sat, 18 May 2019 06:34:25 +0530 https://www.taxtmi.com/article/detailed?id=8507