Liquidator Must Register for GST When Selling Company Assets During Insolvency Under Section 7 and 24 CGST Act

Liquidator Must Register for GST When Selling Company Assets During Insolvency Under Section 7 and 24 CGST Act https://www.taxtmi.com/highlights?id=86257 Sale of assets by NCLT-appointed liquidator for Company A in liquidation constitutes supply of goods/services under Section 7 of CGST Act 2017. AAR ruled that liquidator must obtain mandatory GST registration per Section 24 of CGST/WBGST Acts, following special procedures outlined in Notifications 11/2020-CT and 39/2020-CT. These notifications specifically address corporate debtors under IBC 2016 whose affairs are managed by IRP/RP during insolvency resolution. Decision aligns with previous AAR ruling that liquidator-conducted asset sales qualify as taxable supply requiring GST registration. The registration requirement applies from liquidator's appointment until completion of corporate insolvency process. en-us Wed, 05 Mar 2025 07:49:45 +0530 Wed, 05 Mar 2025 07:49:47 +0530 TaxTMI RSS Generator Liquidator Must Register for GST When Selling Company Assets During Insolvency Under Section 7 and 24 CGST Act https://www.taxtmi.com/highlights?id=86257 Sale of assets by NCLT-appointed liquidator for Company A in liquidation constitutes supply of goods/services under Section 7 of CGST Act 2017. AAR ruled that liquidator must obtain mandatory GST registration per Section 24 of CGST/WBGST Acts, following special procedures outlined in Notifications 11/2020-CT and 39/2020-CT. These notifications specifically address corporate debtors under IBC 2016 whose affairs are managed by IRP/RP during insolvency resolution. Decision aligns with previous AAR ruling that liquidator-conducted asset sales qualify as taxable supply requiring GST registration. The registration requirement applies from liquidator's appointment until completion of corporate insolvency process. Highlights GST Wed, 05 Mar 2025 07:49:45 +0530 https://www.taxtmi.com/highlights?id=86257