This application, IA 354/2023, was filed by the Liquidator of M/s Bharati Defence and Infrastructure Limited, which is undergoing liquidation proceedings under the Insolvency and Bankruptcy Code, 2016. The Liquidator sought directions from the NCLT to compel the Dy. Commissioner of State Tax, Mumbai North-West, to refund a GST amount of INR 26,669,392/- without any adjustments or set-offs, into the liquidation account of the Corporate Debtor. This GST refund was related to a cancelled Letter of Intent (LoI) issued to HR Commercials Private Limited for Parcel 8 Assets of the Corporate Debtor, and the subsequent refund of the sale consideration to HR Commercials as per a previous order of the Tribunal.
The Corporate Debtor, M/s Bharati Defence and Infrastructure Limited, is undergoing liquidation. The Liquidator filed IA 354/2023 seeking a refund of INR 26,669,392/-, representing GST paid on a cancelled auction sale of Parcel 8 assets. The Letter of Intent (LoI) to HR Commercials Private Limited was cancelled, and the sale consideration was refunded. The Respondent, Dy. Commissioner of State Tax, refused to refund the GST, attempting to adjust it against outstanding tax liabilities, including interest and penalties, for the period from July 2017 to March 2018. The Liquidator had already paid INR 39,01,610/- towards the principal GST liability. The Respondent deducted Rs. 49,36,000/- from the sanctioned refund on account of pending demand in form of interest and
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This application, IA 354/2023, was filed by the Liquidator of M/s Bharati Defence and Infrastructure Limited, which is undergoing liquidation proceedings under the Insolvency and Bankruptcy Code, 2016. The Liquidator sought directions from the NCLT to compel the Dy. Commissioner of State Tax, Mumbai North-West, to refund a GST amount of INR 26,669,392/- without any adjustments or set-offs, into the liquidation account of the Corporate Debtor. This GST refund was related to a cancelled Letter of Intent (LoI) issued to HR Commercials Private Limited for Parcel 8 Assets of the Corporate Debtor, and the subsequent refund of the sale consideration to HR Commercials as per a previous order of the Tribunal.
The Corporate Debtor, M/s Bharati Defence and Infrastructure Limited, is undergoing liquidation. The Liquidator filed IA 354/2023 seeking a refund of INR 26,669,392/-, representing GST paid on a cancelled auction sale of Parcel 8 assets. The Letter of Intent (LoI) to HR Commercials Private Limited was cancelled, and the sale consideration was refunded. The Respondent, Dy. Commissioner of State Tax, refused to refund the GST, attempting to adjust it against outstanding tax liabilities, including interest and penalties, for the period from July 2017 to March 2018. The Liquidator had already paid INR 39,01,610/- towards the principal GST liability. The Respondent deducted Rs. 49,36,000/- from the sanctioned refund on account of pending demand in form of interest and
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