2023 (11) TMI 626 - SCH - Customs

Recovery of dues - waterfall mechanism - HELD THAT - Appeal disposed off with the clarification that the dues of the Central Board of Indirect Taxes Customs, Department of Revenue will be paid as per the waterfall stipulated under Section 53 of the Insolvency and Bankruptcy Code, 2016.

Summary

The Supreme Court of India considered the question of limitation in a case and clarified that the dues of the Central Board of Indirect Taxes & Customs will be paid as per Section 53 of the Insolvency and Bankruptcy Code, 2016. The appeals were disposed of, and any pending applications were also disposed of.