Clarification regarding the treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under Insolvency and Bankruptcy Code, 2016 https://www.taxtmi.com/circulars?id=67419 Where insolvency adjudications reduce statutory government dues, those dues are treated as operational debt and the reduction qualifies as "other proceedings" under section 84 of the TNGST Act; the Commissioner must intimate the reduction to the taxable person and the authority handling recovery and may continue recovery only for the reduced amount, issuing the intimation in FORM GST DRC-25 when a confirmed demand and summary exist. en-us Wed, 24 Apr 2024 00:00:00 +0530 Tue, 14 May 2024 17:13:00 +0530 TaxTMI RSS Generator Clarification regarding the treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under Insolvency and Bankruptcy Code, 2016 https://www.taxtmi.com/circulars?id=67419 Where insolvency adjudications reduce statutory government dues, those dues are treated as operational debt and the reduction qualifies as "other proceedings" under section 84 of the TNGST Act; the Commissioner must intimate the reduction to the taxable person and the authority handling recovery and may continue recovery only for the reduced amount, issuing the intimation in FORM GST DRC-25 when a confirmed demand and summary exist. Circulars GST - States Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67419