Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

State Prioritized as Secured Creditor for VAT Debts under GVAT Act, as per IBC Section 3(30) Definition.

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....Recovery of dues - priority of settlement of dues - The State is a secured creditor under the GVAT Act. Section 3(30) of the IBC defines secured creditor to mean a creditor in favour of whom security interest is credited. Such security interest could be created by operation of law. The definition of secured creditor in the IBC does not exclude any Government or Governmental Authority. - SC....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

State Prioritized as Secured Creditor for VAT Debts under GVAT Act, as per IBC Section 3(30) Definition.