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VAT - Highlights / Catch Notes

Home Highlights December 2012 Year 2012 This

Preferential Creditor vs Secured Creditor - Provisions of ...

VAT and Sales Tax

December 10, 2012

Preferential Creditor vs Secured Creditor - Provisions of Section 529-A of Companies Act (a Central legislation) have to be override the provisions of Sec 53 of the M.P. Commercial Tax Act of 1994 (a State legislation) - tax liability will be subject to the provisions of Sec 530 of the Companies Act subject to the provisions of Section 529-A of the said Act. - HC

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