https://www.taxtmi.com/highlights?id=84486 The HC held that as per Sections 31 and 238 of the IBC, the approved Resolution Plan is binding on the Corporate Debtor, its creditors, guarantors, and stakeholders, including government authorities. With the approval of the Resolution Plan by the NCLT, all dues of creditors, corporate, statutory, and others stand extinguished, and no demand can be raised for the period prior to the specified date. Consequently, the impugned communication/notice demanding outstanding entry tax was invalid, and the petition was allowed. en-us Thu, 02 Jan 2025 08:13:28 +0530 Thu, 02 Jan 2025 08:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84486 The HC held that as per Sections 31 and 238 of the IBC, the approved Resolution Plan is binding on the Corporate Debtor, its creditors, guarantors, and stakeholders, including government authorities. With the approval of the Resolution Plan by the NCLT, all dues of creditors, corporate, statutory, and others stand extinguished, and no demand can be raised for the period prior to the specified date. Consequently, the impugned communication/notice demanding outstanding entry tax was invalid, and the petition was allowed. Highlights VAT / Sales Tax Thu, 02 Jan 2025 08:13:28 +0530 https://www.taxtmi.com/highlights?id=84486