The sales conducted by the IRP Liquidator on behalf of the liquidating company constitutes the provisions of “Supply” under the CGST Act, 2017
In a notable ruling, the West Bengal Authority for Advance Ruling (AAR) has declared that an Insolvency Resolution Professional (IRP) or liquidator appointed by the NCLT is required to obtain GST registration before conducting sales of assets belonging to a liquidating company.
The AAR ruling came against an application filed by Maheshwary Ispat Limited, a company undergoing liquidation, seeking clarity on whether the liquidator Santanu Brahma, who was appointed by the National Company Law Tribunal (NCLT) on December 19, 2023. was obligated to obtain GST registration in order to dispose of…
