Interplay of Insolvency & Bankruptcy Code with GST

There has been an oddity in provisions as contained in GST vis-a-vis the series of events to be followed by an IRP/RP. Whereas the Code requires filing of claims by the Tax Officer to the IRP/RP w.r.t previous claims, on the other hand GST Law does not permit payment of current dues by the IRP/RP without settlement of past dues. 39th GST Council meeting brought about a much awaited relief to the Resolution Professionals. Special provisions for the companies undergoing CIRP process was notified vide Notification no. 11/2020 dated 21st Mar’20 and further clarified vide Circular No. 134/04/2020-GST dated 23rd Mar’20.

In the enclosed document we have discussed the details thereof along with some Frequently Asked Questions (FAQ’s)

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