|
||||||||||||||||||
|
||||||||||||||||||
 |
|
||||||||||
|
|
CIRCULAR NO. 7 OF 2007-08
Section 53 of the Delhi Value Added Tax Act, 2004 provides that “Every person who is a liquidator of any company which is being wound up, whether under the orders of a court or otherwise; or who has been appointed the receiver of any assets of a company (hereinafter referred to as the 'liquidator'); shall, within one month after he has become such liquidator, give notice of his appointment as such to the Commissioner.”
Further sub-section (2) stipulates that the Commissioner shall, after making such inquiries or calling for such information as he may deem fit, notify the liquidator within three months from the date on which he received notice 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.
It has come to the notice of the department that the Assessing Authorities are not paying any attention to the provisions of the above said section. These provisions requiring the liquidator to give notice of his appointment to the Commissioner are, generally, not being complied with. In such an event where the liquidator fails to give notice of his appointment, sub-section (4) of the aforesaid section makes the liquidator personally liable for payment of tax and penalty, if any, which the company would be liable to pay under the Act, provided that such tax or penalty is notified to the liquidator under sub-section (2).
All the Assessing Authorities are hereby directed to ensure compliance of Section-53 in respect of companies in liquidation.
This issues with the prior approval of Commissioner, VAT.
Sd/-
(G.D. GROVER)
Value Added Tax Officer (Policy)
No.F.6(46)/Policy-I/VAT/2007/468-478 Dated: 03.10.2007
|
|
|||
|
|||
|