if commissioner doesnot initimate about the amount to set apart within 3 months to liquidator. Then what is the responsibility of liquidator in this. is there any punishment for commissioner.
plz help.
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Sec 88 of cgst act,2017
Replies (1)
If the Commissioner fails to notify the liquidator within 3 months, the liquidator is free from personal liability regarding unnotified dues and can proceed with asset distribution under the priority rules of the IBC. There is no statutory punishment for the Commissioner for missing this deadline.
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