IBC would Prevail Over the Customs Act Once The Moratorium Is Executed: Supreme Court

The Supreme Court has ruled that provisions of IBC (Insolvency and Bankruptcy Code) would prevail over the Customs Act once the moratorium is executed. As per the Bench of CJI NV Ramana, and Justices JK Maheshwari and Hima Kohli the CBIC (Central Board of Indirect Taxes and Customs) would have limited authority to determine customs

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