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VOL. 10, ISSUE 5 (2024)
Navigating the GST maze in insolvency: Decoding ITC challenges under IBC
Authors
Sumit K Batra, Manish Khurana
Abstract
This article delves into the intricate relationship between the
Insolvency and Bankruptcy Code (IBC), 2016, and the Goods and Services Tax
(GST) Act, 2017, focusing on the challenges businesses face when navigating
Input Tax Credit (ITC) claims during insolvency proceedings. It explores how
insolvency impacts GST compliance, the classification of tax authorities as
operational creditors, and the legal complexities that arise from the
conflicting priorities of the IBC and GST frameworks. By analyzing key case
laws, legislative provisions, and judicial interpretations, this article
provides insights into the ongoing conflicts between the two statutes and
offers policy recommendations for harmonizing their provisions. The objective
is to guide stakeholders in understanding the nuances of GST compliance within
insolvency regimes, ensuring smoother resolutions and enhanced recovery
outcomes.
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Pages:34-39
How to cite this article:
Sumit K Batra, Manish Khurana "Navigating the GST maze in insolvency: Decoding ITC challenges under IBC". International Journal of Law, Vol 10, Issue 5, 2024, Pages 34-39
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