https://www.taxtmi.com/caselaws?id=389750 A Central Act creating priority for secured creditors by a non obstante clause can override a State VAT first-charge provision, especially where the State enactment itself makes that charge subject to Central law. The commentary notes that Section 31B of the central recovery statute gives secured creditors priority over other debts and Government dues, including taxes and cesses, whether recovery is pursued under the recovery statute or the securitisation framework. It also explains that an objection based on absence of entry in the Central Registry does not defeat that statutory priority, since the decisive source of priority is the central provision itself. en-us Fri, 13 Dec 2019 00:00:00 +0530 Tue, 17 Dec 2019 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389750 A Central Act creating priority for secured creditors by a non obstante clause can override a State VAT first-charge provision, especially where the State enactment itself makes that charge subject to Central law. The commentary notes that Section 31B of the central recovery statute gives secured creditors priority over other debts and Government dues, including taxes and cesses, whether recovery is pursued under the recovery statute or the securitisation framework. It also explains that an objection based on absence of entry in the Central Registry does not defeat that statutory priority, since the decisive source of priority is the central provision itself. Case-Laws VAT and Sales Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389750