Introduction The intersection of tax recovery mechanisms under the Central Goods and Services Tax Act, 2017 and the priority framework under the Insolvency and Bankruptcy Code, 2016 has generated recurring litigation. A frequent point of contention is whether a statutory first charge created under tax statutes automatically confers the status of a secured creditor in…
Introduction The GST framework is often described as a system that allows credit to move seamlessly across transactions, with each participant in the supply chain passing on tax in a continuous flow. In practice, this depends on a basic assumption: that each link in the chain performs its part as expected. That assumption begins to…
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