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SGST Advance Ruling Authority

GST – West Bengal AAR – Insolvency Proceedings, sale of the assets by NCLT appointed liquidator, Supply, GST Registration – Applicant is company in liquidation appointed Mr. Santanu Brahma as the Liquidator by order of the NCLT - Whether the sale of assets of a company in liquidation by the Liquidator would be considered a supply of goods/services within the meaning of "supply" under Section 7 of the CGST Act, 2017 - HELD – The Notification nos. 11/2020-Central Tax dated 21.03.2020 & 39/2020-Central Tax dated 05.05.2020 seeks to provide special procedure for corporate debtors undergoing the Corporate Insolvency Resolution process under the Insolvency and Bankruptcy Code, 2016 - any sale of assets of the company in liquidation, done by the Liquidator, results in a supply of goods and/or services or both within the meaning of "supply" as defined under Section 7 of the CGST Act, 2017 - the sale of assets by an NCLT-appointed liquidator is a supply of goods and the liquidator is required to take registration under Section 24 of the CGST Act to discharge the GST obligations arising from such supply - Ordered accordingly - Whether the Liquidator appointed by the NCLT is required to obtain GST registration in terms of Section 24 of the CGST Act, 2017 – HELD - the Liquidator, who is an insolvency professional appointed by the Hon'ble NCLT Kolkata Bench as a liquidator, is required to obtain GST registration in terms of Section 24 of the CGST Act, 2017 read together with Notification No. 11/2020-Central Tax dated 21-March-2020 and Notification No. 439-F.T. dated 03-April 2020 issued under the WBGST Act, 2017. These notifications provide for a special procedure for corporate debtors undergoing the corporate insolvency resolution process, wherein the management of the corporate debtor's affairs is undertaken by the IRP/RP, who is required to obtain a fresh GST registration.
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