GST Provisions relating to Corporate Insolvency Resolution Process (CIRP) to be complied with by IRP/RP

Section 39(1) mandatorily requires every registered person to furnish monthly return on or before 20th day of the next month. In most of the cases, when a company is undergoing Corporate Insolvency Resolution Process (CIRP in short), it becomes very difficult to for such companies to file their tax returns and pay off tax liabilities, obviously because of liquidity shortfall.

from TaxGuru https://ift.tt/3brmtyy
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