TaxTMI 
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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....28/2018-(khand-III) 198 Dated- 13/01/23 From: Dr. Pratima, Commissioner State Tax-cum-Secretary, Bihar, Patna. To, All Additional Commissioner, All Circle Incharge, Bihar. Subject: Clarification regarding the treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under Inso....
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....kruptcy Code, 2016 (hereinafter referred to as the "IBC") with respect to demand for recovery against such corporate debtor under Bihar Goods and Services Tax Act, 2017(hereinafter referred to as "BGST Act")as well under the existing laws and the treatment of such statutory dues under BGST Act and existing laws, after finalization of the proceedings under IBC. 3. In order to ensure uniformity i....
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.... (i) it shall not be necessary for the Commissioner 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....
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.... authorities under IBC are quasi-judicial authorities 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. A....