No.1209 Registered No. N. E.930.
TRIPURA GAiZETTE Published byAuthority EXTRAORDINARY ISSUE AgarTala, Wednesday, May 20,2020 A. D., Vaisakha 30, 1942 S. E.
PART--I-- Orders and Notifications by the Government of Tripura, The High Gourt, Government Treasury etc.
GOVERNMENT OF TRIPURA FINANCE DEPARTMENT (TAXES & EXCTSE) No. F. 1 -1 1 (9 1 )-TAXGST/2020(Part-l l) Dated, Agartala the 20th May,2020.
NOTIFICATION ln exercise of the powers conferred by section 148 of the Tripura State Goods and Services Tax Act.2017 ('Iripura Act No. 9 of 2017) (hereinafter refened to as the said Act).
the Government. on the recommendations of the L'ouncil, hereby notifies those registered persons (hereinafler ref-erred to as the erstrvhile registered person), who are corporate debtors under the provisions of the Insolvency and Bankruptcy Code,20l6 (31 of 2016), undergoing the corporate insolvency resolution process and the management of r,l'hose affairs are being undertaken by interim resolution professionais (lRP) or resolution prolbssionals (RP), as the ciass of persons who shall fbllolv the fbllowing special procedure, fiom the date of the appointment of the IRP/RP till the period thel'' undergo the corporate insolvency resolution process, as mentioned belou'.
2. Registration.- The said class of persons shall, rvith eff'ect from the date of appointment of IRP / RP, be treated as a distinct person of the corporate debtor, and shall be liable to take a nerv registration (hereinafler relbrred to as the new registration) in each of the States or Union territories where the corporate debtor r,vas registered earlier. ,'vithin thirtv davs o1'the appoir-rtment of the IRP/RP:
Provided that in cases where the II{P/RP has been appointed prior to the clate of this notification. he shall take registration r,vithin thirty days frorn the commencement of this notification, with effect fiom date of his appointment as IRP/RP.
3. Return.- The said class of persons shall. after obtaining resistration flle the first return under section 40 of the said Act" fi'om the date on rvhiclr he becomes liable to resistration till the date on r.vhich registration has been qranted.
I No.1209 Registered No. N. E. 930.
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imlra amt PublishedbyAuthority EXTRAORDINARY ISSUE Agartala, Wednesday, May 20, 2020 A. D.., Vaisakha 30, 1942 S. E.
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PART--l-- Orders and Notifications by the Government of Tripura, The High Court, Government Treasury etc.
GOVERNMENT OF TRIPURA FINANCE DEPARTMENT (TAXES & EXCISE) No.F.1-11 (91)-TAX/GST/2020(Part-ll) Dated, Agartala the 20*“ May, 2020.
NOTIFICATION In exercise of the powers conferred by section 148 of the Tripura State Goods and Services Tax Act, 2017 (Tripura Act No. 9 of 2017) (hereinafter referred to as the said Act), the Government, on the recommendations of the Council, hereby notifies those registered persons (hereinafter referred to as the erstwhile registered person), who are corporate debtors under the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), undergoing the corporate insolvency resolution process and the management of whose affairs are being undertaken by interim resolution professionals (IRP) or resolution professionals (RP), as the class of persons who shall follow the following special procedure, from the date of the appointment of the IRP/RP till the period they undergo the corporate insolvency resolution process, as mentioned below.
2. Registrati0n.- The said class of persons shall, with effect from the date of appointment of IRP / RP, be treated as a distinct person of the corporate debtor, and shall be liable to take a new registration (hereinafter referlred to as the new registration) in each of the States or Union territories where the corporate debtor was registered earlier, within thirty days of the appointment of the IRPKRP:
Provided that in cases where the IRP,/‘RP has been appointed prior to the date of this notification, he shall take registration within thirty days from the commencement of this notification, with effect from date of his appointment as IRP/RP.
3. Return.- The said class of persons shall, after obtaining registration file the first return under section 40 of the said Act, from the date on which he becomes liable to registration till the date on which registration has been granted.
Tripura Gazette, Extraordinary Issue, May 20 ,2A2O A. D.
4. Input tax credit.-(l)The said class of persons shall. in his tlrst return, be eligible to avail input tax credit on invoices covering the supplies of goods or services or both, received since his appointment as IRP/RP but bearing the GSTN of the erstwhile registered person, subject to the conditions of Chapter V of the said Act and the rules made thereunder, cxcept the provisions of sub-section (a) of section 16 of the said Act and sub-rule (a) of rule 36 of the Tripura State Goods and Services Tax Rules,20l7 (hereinafter referred to as the said rules).
(2) Registered persons who are receiving supplies from the said class of persons shall, for the period from the date of appointment of IRP / RP till the date of registration as required in this notification or thirb"days from the date of this notiflcation, r.vhichever is earlier, be eligible to avail input tax credit on invoices issued using the GS I'lN of the erstrvhile registered person, subject to the conditions of Chaptcr V o1'the said Act and the rulcs made thereunder, except the provisions of sub-rule (4) o1'rule 36 of the said rules.
(5) Any amount deposited in the cash ledger by the IRP/RP. in the existing registration. lrom the date of appointmenl o1'lRPiRP to tlre date of'rcgistration in terms of'this notit'ication shall be available lbr refund to the erstrvhile registration.
Il,rplanation.- For the purposes of this notification, the terms "corporate debtor", "corporate insolvencl,' resolution professional". "interim resolution professional" and "re solution prof'essional" shall have tlre same meaning as assigned to them in the lnsolvency and Bankruptcy' Code, 201 6 (3 I of 201 6).
By order o Governor, f (Na umar B, IAS) Joint Secretary' Government of Tripura Finance Department Printed at the Tripura Government Press, Agartala.
Tripura Gazette, Extraordinary Issue, May 20 ,202O D.
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4. Input tax credit.-(l)The said class of persons shall, in his first return, be eligible to avail input tax credit on invoices covering the supplies of goods or services or both, received since his appointment as IRPXRP but bearing the GSTIN of the erstwhile registered person, subject to the conditions of Chapter V of the said Act and the rules made thereunder, except the provisions of sub-section (4) of section 16 of the said Act and sub-rule (4) of rule 36 of the Tripura State Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules).
(2) Registered persons who are receiving supplies from the said class of persons shall, for the period from the date of appointment of IRP / RP till the date of registration as required in this notification or thirty days from the date ofthis notification, whichever is earlier, be eligible to avail input tax credit on invoices issued using the GSTIN of the erstwhile registered person, subject to the conditions of Chapter V of the said Act and the rules made thereunder, except the provisions ofsub-rule (4) of rule 36 ofthe said rules.
(5) Any amount deposited in the cash ledger by the lRP,»"RP.. in the existing registration, from the date of appointment of l,R,Pr’Rl’ to the date of registration in terms of this notification shall be available for refund to the erstwhile registration.
Expl,an,ation.- For the purposes of this notifcation, the terms “corporate debtor”, “corporate insolvency resolution professionafl “interim resolution professional” and “resolution professional” shall have the same meaning as assigned to them in the Insolvency and Bankruptcy Code, 2016 (3l of 2016).
By order of to e Governor, O4 1» (Nage umar B, IAS) Joint Secretary Government of Tripura Finance Department Printed at the Tripura Government Press, Agartala. 2