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TaxTMI 
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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....ax Lucknow: Dated: 02-01-2023 To, All Zonal Additional Commissioner Grade -1, Additional Commissioner Grade -2 (S.I.B.) Joint Commissioner (Executive/Corporate Circle/S.I.B) State Tax, Uttar Pradesh. Subject: Clarification regarding the treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised und....
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....demand for recovery against such corporate debtor under Uttar Pradesh Goods and Services Tax Act, 2017(hereinafter referred to as "UPGST Act") as well under the existing laws and the treatment of such statutory dues under UPGST 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 fi....
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....issioner to serve upon the taxable person a fresh notice of demand; (ii) the Commissioner shall give intimation of such reduction to him and 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 ....
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....horities constituted to deal with civil disputes pertaining to insolvency and bankruptcy. For instance, under IBC, NCLT serves as an adjudicating authority 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 ad....