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Read full SOP by CBIC

CBIC SOP for recovery of GST dues from companies undergoing liquidation under the Insolvency and Bankruptcy Code (IBC).

GST and Customs authorities have been classified as operational creditors and are required to submit their claims against corporate debtors when the corporate insolvency and resolution process is initiated. However, CBIC observed, that there is an inordinate delay in filing claims by the Customs and GST authorities, which results in their claims not being admitted once a resolution plan is approved.

A corporate debtor undergoing insolvency is liable to furnish its GST returns, pay tax, and meet all other compliance as per the GST law during the corporate insolvency process. Tax officers can’t make any claims after the winding up order of a company is passed.

It also observed that the authorities then litigate on the rejection of the claims, despite the settled position that no such claims can be raised once the plan is approved and no demands can be raised on the resolution applicant that has taken over the company.

One reason for such delay in filing claims is that the GST zonal office concerned did not receive information that the resolution process had been initiated.

Accordingly CBIC issued full SOP for handling of such cases.

  Read full SOP by CBIC

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May 28, 2022


Please send pdf cbic sop
By: Taha Hussain Saify | Dt: May 28, 2022
By: Abhishek Goswami | Dt: May 28, 2022

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