GST - States - Highlights / Catch Notes

The circular issued by the Government of Tamil Nadu, Commercial ...

GST Dues in Insolvency: No Coercive Action on Pre-Resolution Debts, Claims via NCLT, Adjusted Recovery Permitted.

May 22, 2024

Circulars GST - States

The circular issued by the Government of Tamil Nadu, Commercial Taxes Department, addresses the treatment of statutory dues under GST law for taxpayers whose proceedings have concluded under the Insolvency and Bankruptcy Code, 2016 (IBC). It clarifies that no coercive action can be taken against corporate debtors for dues prior to the commencement of the Corporate Insolvency Resolution Process (CIRP). The circular emphasizes the treatment of such dues as 'operational debt' and outlines the process for filing claims before the National Company Law Tribunal (NCLT) in accordance with the IBC. The Commissioner, u/s 168 of the Tamil Nadu Goods and Services Tax Act, provides clarity on the continuation and validation of recovery proceedings u/s 84 of the Act. It explains that if government dues are reduced through appeals or other proceedings, the Commissioner must inform the taxpayer and appropriate authority, allowing recovery proceedings to continue for the reduced amount.

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The circular issued by the Government of Tamil Nadu, Commercial ...

GST Dues in Insolvency: No Coercive Action on Pre-Resolution Debts, Claims via NCLT, Adjusted Recovery Permitted.

May 22, 2024

Circulars GST - States

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