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CBIC issues SOPs for recovering tax dues from insolvent companies

The CBIC said it has nominated a nodal officer to ensure filing of claims with the Insolvency and Bankruptcy Board of India (IBBI) within 90 days of the commencement of the process

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Shrimi Choudhary New Delhi
The Central Board of Indirect Taxes and Customs (CBIC) has issued standard operating procedures (SOPs) to ensure the timely recovery of goods and services tax (GST) dues from companies undergoing liquidation under the Insolvency and Bankruptcy Code (IBC).

The CBIC said it has nominated a nodal officer to ensure filing of claims with the Insolvency and Bankruptcy Board of India (IBBI) within 90 days of the commencement of the process. This is aimed at protecting the government’s revenue and to make the process smooth and effective, the CBIC said in the note.

A corporate debtor undergoing insolvency is liable to furnish its

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First Published: May 27 2022 | 11:27 PM IST

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