Provisions under Section 88 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Liability in Case of Company in Liquidation”:
Section 88 of CGST Act 2017: Liability in Case of Company in Liquidation (CHAPTER XVI – LIABILITY TO PAY IN CERTAIN CASES)
(1) When any company is being wound up whether under the orders of a court or Tribunal or otherwise, every person appointed as receiver of any assets of a company (hereafter in this section referred to as the “liquidator”), shall, within thirty days after his appointment, give intimation of his appointment to the Commissioner.
(2) The Commissioner shall, after making such inquiry or calling for such information as he may deem fit, notify the liquidator within three months from the date on which he receives intimation of the appointment of the liquidator, the amount which in the opinion of the Commissioner would be sufficient to provide for any tax, interest or penalty which is then, or is likely thereafter to become, payable by the company.
(3) When any private company is wound up and any tax, interest or penalty determined under this Act on the company for any period, whether before or in the course of or after its liquidation, cannot be recovered, then every person who was a director of such company at any time during the period for which the tax was due shall, jointly and severally, be liable for the payment of such tax, interest or penalty, unless he proves to the satisfaction of the Commissioner that such non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company.
|Note: CBEC notifies 01/07/2017 as the Commencement date for Sections 6 to 9, 11 to 21, 31 to 41, 42 [except proviso to sub-section (9)], 43 [except proviso to sub-section (9)], 44 to 50, 53 to 138, 140 to 145, 147 to 163 and 165 to 174 of the CGST Act 2017, vide Notification 9/2017.|
Note: The CGST Act 2017 has been notified vide GOI Notification dt. 12/04/2017, which has subsequently been amended through CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020, Finance Act 2021, Finance Act 2022 including various Notifications issued by the Govt./ CBIC from time to time, relating to the commencement dates of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required. Information on this page is a Section-wise compilation of the Amendments made by various Notifications issued by CBIC from time to time, with best possible efforts for accuracy. In any case, E&OE. For official/ updated information, please visit CBIC website.
|CBIC Updates (GST)|
|Index of GST Circulars, Notifications, Press Releases, Orders, etc. issued by CBIC from 2017 and onwards along with Section-wise/ Rule-wise Text of GST Acts/ Rules:|
|CGST: CGST Act/ Definitions, CGST Rules, GST Forms|
|IGST: IGST Act/ Definitions, IGST Rules|
|UTGST: UTGST Act/ Definitions, UTGST Rules|
|GST Circulars (CGST/ IGST/ UTGST): 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|GST Instructions: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|CGST Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|CGST Rate Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|IGST Notifications: 2022, 2021, 2020, 2019, 2018, 2017|
|IGST Rate Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|UT Tax/ UTGST Notifications: 2022, 2021, 2020, 2019, 2018, 2017|
|UT Tax/ UTGST Rate Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|Compensation Cess Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|Compensation Cess Rate Notifications: 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|CBIC Orders (CGST/ IGST/ UTGST): 2023, 2022, 2021, 2020, 2019, 2018, 2017|
|CBIC Press Releases: 2020, 2019, 2018, 2017|
|Note: For Official/ updated copy, please visit the CBIC website.|