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Informative

Sale of Assets of Liquidating Company done by Liquidator is Supply of Goods/Services under S.7 CGST Act: AAR

Update / Judgement Date

04 Mar 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

GSTInsolvency & Bankruptcy Code

AAR ruled that the sale of assets by a liquidator from a liquidating company is a supply of goods or services under the CGST Act. This decision clarifies the GST implications of asset sales during liquidation. It underscores the importance of compliance during insolvency proceedings. This ruling reflects the authority's interpretation of GST laws. It emphasizes the need for clear guidelines. The ruling aims to ensure proper GST collection.