https://www.taxtmi.com/caselaws?id=393519 A refund claim arising from VAT/CST adjustment under a Letter of Award was not an operational debt where the contractual condition for furnishing C-Forms was not met before removal of the goods. The tribunal noted that the seller had already collected and deposited the higher tax amount with the Government Exchequer, so the demand was a tax-related refund dispute under the Central Sales Tax regime rather than a debt recoverable through insolvency proceedings. Section 9 of the Insolvency and Bankruptcy Code, 2016 was therefore not available, and the petition was rejected. en-us Wed, 06 Nov 2019 00:00:00 +0530 Wed, 18 Mar 2020 11:34:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393519 A refund claim arising from VAT/CST adjustment under a Letter of Award was not an operational debt where the contractual condition for furnishing C-Forms was not met before removal of the goods. The tribunal noted that the seller had already collected and deposited the higher tax amount with the Government Exchequer, so the demand was a tax-related refund dispute under the Central Sales Tax regime rather than a debt recoverable through insolvency proceedings. Section 9 of the Insolvency and Bankruptcy Code, 2016 was therefore not available, and the petition was rejected. Case-Laws Insolvency and Bankruptcy Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393519