https://www.taxtmi.com/circulars?id=66447 Where IBC proceedings finalise and reduce amounts payable as Government dues under the GGST Act, such IBC adjudication constitutes an "other proceeding" under section 84, obliging the Commissioner to intimate the reduction to the taxable person and to the authority with pending recovery. Recovery may proceed only for the reduced amount from the stage it stood prior to disposal. Under Rule 161, the Commissioner shall issue the intimation in Form GST DRC-25 when a confirmed demand against a corporate debtor has been reduced by IBC finalisation. en-us Wed, 18 Jan 2023 00:00:00 +0530 Mon, 19 Jun 2023 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66447 Where IBC proceedings finalise and reduce amounts payable as Government dues under the GGST Act, such IBC adjudication constitutes an "other proceeding" under section 84, obliging the Commissioner to intimate the reduction to the taxable person and to the authority with pending recovery. Recovery may proceed only for the reduced amount from the stage it stood prior to disposal. Under Rule 161, the Commissioner shall issue the intimation in Form GST DRC-25 when a confirmed demand against a corporate debtor has been reduced by IBC finalisation. Circulars GST - States Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66447