West Bengal Advance Ruling dated 29.06.2020 -Mansi Oils and Grains Private Limited-Registration under GST for Liquidator under IBC

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....est Bengal Advance Ruling dated 29.06.2020 -Mansi Oils and Grains Private Limited-Registration under GST for Liquidator under IBC<br>By: - MEHAK GOEL<br>Goods and Services Tax - GST<br>Dated:- 14-7-2020<br><br>IN RE: M/S. MANSI OILS AND GRAINS PVT. LTD. [2020 (7) TMI 141 - AUTHORITY FOR ADVANCE RULING, WEST BENGAL] Facts of the case: 1. The applicant business has been closed for 10 years and it ....

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....was registered under West Bengal VAT Act, 2003. It did not file REG-26 and thus, did not migrate to GST. 2. NCLT has appointed a liquidator and after the appointment all powers of directors in decision making are vested in liquidator u/s 34(2) of IBC. 3. Plant and machinery, office equipment and furniture sold auctioned u/s 32(c) of IBC for &#8377; 2.82crores. Ruling by authority: 1. As per S.....

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.... No.4(a) of Schedule II of the GST Act, sale of assets as mentioned above is considered as supply. 2. For HSN and tax rate on the goods sold N/No.01/2017 -CT(Rate) dated 28.06.2017 shall be referred. 3. The liquidator is required to take registration u/s 24 of GST Act in abeyance of N/No.11/2020 dated 21.03.2020. Once an insolvency professional takes registration as the authorized person of the ....

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....corporate debtor, it remains in effect with suitable amendment in the certificate of registration if the status or person of the authorized person gets changed (refer to Circular No.138/08/2020 - GST dated 06/05/2020).<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....