https://www.taxtmi.com/caselaws?id=412268 The article examines whether the Insolvency and Bankruptcy Code's overriding effect under Section 238 can displace State VAT and entry tax dues, including whether Section 77 of the U.P. VAT Act creates a first charge that survives a resolution plan. It also addresses the contention that liability under State tax laws crystallises only upon assessment and demand notice, making that date relevant for recovery after insolvency resolution. The discussion contrasts the Code's bankruptcy framework with State taxing statutes and the competing arguments on priority, charge, and the effect of a resolution plan, but it does not record a final adjudication. en-us Wed, 08 Sep 2021 00:00:00 +0530 Tue, 14 Sep 2021 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412268 The article examines whether the Insolvency and Bankruptcy Code's overriding effect under Section 238 can displace State VAT and entry tax dues, including whether Section 77 of the U.P. VAT Act creates a first charge that survives a resolution plan. It also addresses the contention that liability under State tax laws crystallises only upon assessment and demand notice, making that date relevant for recovery after insolvency resolution. The discussion contrasts the Code's bankruptcy framework with State taxing statutes and the competing arguments on priority, charge, and the effect of a resolution plan, but it does not record a final adjudication. Case-Laws VAT and Sales Tax Wed, 08 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412268