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CBIC issued Norms for Recovering Tax Dues from Insolvent Companies

Published on May 28, 2022
Current Context: The Central Board of Indirect Taxes and Customs (CBIC) has issued certain norms to ensure the timely recovery of goods and services tax (GST) dues from companies undergoing liquidation.
CBIC issued Norms for Recovering Tax Dues from Insolvent Companies
  • The tax body observes inordinate delays in filing claims.
  • To overcome that CBIC nominated a nodal officer to ensure the filing of claims with the Insolvency and Bankruptcy Board of India within 90 days of the commencement of the process.
  • Whichever company undergoing insolvency is liable to furnish its GST returns, pay tax, and meet all other compliance as per the GST law.
  • Once the winding-up order has been passed then tax officers are not liable to ask anything from the company.
  • The nodal officer must submit monthly reports on pending arrears and NCLT orders.
  • This step has been taken to protect government revenue stuck in IBC matters.


Q.1 As per the new rules of CBIC nodal officer should ensure to file a claim with IBBI within how many days?
a. 180 days
b. 90 days
c. 120 days
d. 60 days

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