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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
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....YAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110002 (POLICY BRANCH) Circular No. 15/2022-GST of State Tax, dated March 22, 2023. Subject : 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-Reg. Attention is invited to Circular No. 134/04/2020-GST, dated ....
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....DGST Act") as well under the existing laws and the treatment of such statutory dues under DGST Act and existing laws, after finalization of the proceedings under IBC. 3. In order to ensure uniformity in the implementation of the provisions of the law across the field formations, the Pr. Secretary/Commissioner, in exercise of its powers conferred under section 168 of the DGST Act, hereby clarifi....
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....nd to the appropriate authority with whom recovery proceedings is pending ; (iii) any recovery proceedings initiated on the basis of the demand served upon him prior to the disposal of such appeal, revision or other proceedings may be continued in relation to the amount so reduced from the stage at which such proceedings stood immediately before such disposal." 4.2 As per section 84 of....
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....y for insolvency proceedings which are initiated on application from any stakeholder of the entity like the firm, creditors, debtors, employees, etc., and passes an order approving the resolution plan. As the proceedings conducted under IBC also adjudicate the Government dues pending under the DGST Act or under existing laws against the corporate debtor, the same appear to be covered under the ter....