Seeks to make amendments to special procedure for corporate debtors undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016

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.... for Interim Resolution Professionals / Resolution Professionals - Notification - Orders - Issued. REVENUE (CT-II) DEPARTMENT G.O.Ms.No. 154 Dated: 29-12-2020 Read the following:- 1. G.O.Ms.No.121, Revenue (CT.II) Department, dt 20.06.2017. 2. From the Commissioner of Commercial Taxes, Telangana, Hyderabad, Ref. No. A(1)/70/2017, Dt. 23.10.2020. ***** ORDER:- The followi....

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....ng special procedure, from the date of the appointment of the Interim Resolution Professionals / Resolution Professionals till the period they undergo the corporate insolvency resolution process, as mentioned below: Provided that the said class of persons shall not include those corporate debtors who have furnished the statements under section 37 and the returns under section 39 of the sa....

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....r to the date of this notification, he shall take registration within thirty days from the commencement of this notification, with effect from date of his appointment as Interim Resolution Professionals / Resolution Professionals. 3. Return:- The said class of persons shall, after obtaining registration file the first return under section 40 of the said Act, from the date on which he becomes li....

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....om the said class of persons shall, for the period from the date of appointment of Interim Resolution Professionals / Resolution Professionals till the date of registration as required in this notification or thirty days from the date of this notification, whichever is earlier, be eligible to avail input tax credit on invoices issued using the Goods and Services Tax Identification Number of the er....