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TMI Blog2025 (3) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... orporate insolvency resolution process.
The West Bengal Authority for Advance Ruling has given a ruling vide in the case of Mansi Oils and Grains Pvt. Ltd. [2020 (7) TMI 141 - AUTHORITY FOR ADVANCE RULING, WEST BENGAL] that the sale of the assets of the applicant by NCLT appointed liquidator is a supply of goods by the liquidator, who is required to take registration under section 24 of the GST Act.
Conclusion - i) Any sale of assets of the company Maheshwary Ispat Limited which is in liquidation, done by the Liquidator of the company results in a supply of goods and/or services or both within the meaning of "supply" as defined under section 7 of the CGST Act 2017. ii) The Liquidator who is an insolvency professional being appointed by the Hon'ble NCLT Kolkata Bench as a liquidator, is required to obtain GST registration in terms of Section 24 of the CGST Act, 2017 and WBGST Act 2017 read together with the Notification no. 11/2020-Central Tax dated 21-March-2020 and Notification no. 439-F.Tdated 03-April 2020, issued under the WBGST Act, 2017. X X X X Extracts X X X X X X X X Extracts X X X X ..... no. 439-F.T. dated 03-April 2020, issued under WBGST Act, 2017. 2. If the answer to the question in (1) is in affirmative, how to obtain the registration when no specific registration process has been specified for a company which in Liquidation? 3. Is the Liquidator required to collect GST at applicable rates on sale of assets of the company Maheshwary Ispat Limited which is in liquidation? If the answer is in affirmative, how to discharge the GST obligation, file GST return and pass on the GST Input Tax Credit when GST registration of the Company in Liquidation is not allowed to be proceeded further on the GST Portal? 1.4 As per sub-section (2) of section 97 of the GST Act, the question on which the advance ruling is sought under this Act, shall be in respect of, - (a) classification of any goods or services or both; (b) applicability of a notification issued under the provisions of this Act; (c) determination of time and value of supply of goods or services or both; (d) admissibility of input tax credit of tax paid or deemed to have been paid; (e) determination of the liability to pay tax on any goods or services or both; (f) whether applicant is required to be re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the company from the Ld. Official Liquidator. E. That on 09.05.2024, the Liquidator published the E-auction sale notice of the "Unexpired Lease of the Office Premises of the CD situated at City Centre 1, Kolkata 700064" (hereinafter referred to as "Asset") in the newspaper namely "The Telegraph Calcutta edition in English, 'Business Standard Kolkata edition in English and 'Aajkaal Kolkata in Bengali. F. That on 03.06.24, the Liquidator conducted the E-Auction of the asset of the CD being Unexpired Lease of the Office Premises of the CD situated at City Centre 1, Kolkata 700064' in terms of the E-Auction Sale Notice dated 09.05.24 and M/s. Star Turn Exim Pvt. Ltd. emerged as a Successful Bidder. G. That the company, M/s Maheshwary Ispat Limited, did not possess a GST Registration as on 19.12.2023 being the date of appointment of Liquidator by the Hon'ble NCLT Kolkata Bench. H. That Notification nos. 11/2020-Central Tax, dated 21-March-2020& 39/2020-Central Tax, dated 5th May 2020 were issued, which seeks to provide special procedure for corporate debtors undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sector Undertaking Society/Club/Trust/Association of Persons Unlimited Company. Therefore we request you to kindly add at least 2 Partners/Promoter by filing core amendment then save and then submit the application. If you face any other issues kindly raise another tickets with proper screenshots. Thanks Team GST" M. That the GST Registration guidelines at https://tutorial.gat.gov.in/userguide/registration/Apply_for_Registration_Normal_Taxpayer.htm specified "Minimum 2 Promoters and Partners need to be added to submit the application for registration. In case you are proceeding with less than 2 Promoters and Partners, the below error message will be displayed......." N. That since the company is in Liquidation, there are no Promoters/Directors of the company at present and the affairs are being managed by the Liquidator appointed by the Hon'ble NCLT, Kolkata vide its order dated 19.12.2023 and the erstwhile promoters/directors are not contactable. 3. Submission of the Revenue 3.1 The applicant is not yet registered and so it does not fall under any specific jurisdiction. Therefore, views from the officer from the revenue on the issue raised by the applicant are not availa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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