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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..... ted 06-01-2023. 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. Ref : Circular No. 187/19/2022-GST, dated December 27, 2022 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Cust .....

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..... Pradesh Goods and Services Tax Act, 2017 (hereinafter referred to as "APGST Act") as well under the existing laws and the treatment of such statutory dues under APGST 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 Chief Commissioner (ST), in exercise of it .....

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..... ommissioner 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 in relation to the amount so reduced from the stage at which such proceedings stood immediate .....

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..... , 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 adjudicate the Government dues pending under the APGST Act or under existing laws against the corporat .....

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..... and, to the taxable person or any other person as well as the appropriate authority with whom recovery proceedings are pending. 6. It is requested that suitable trade notices may be issued to publicize the contents of this circular. 7. Difficulty, if any, in the implementation of the above instructions meat please be brought to the notice of the Chief Commissioner of State Tax. N Gulzar IAS Ch .....

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