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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 132

VAT: requirement of set-off

~1 min read
https://sooperkanoon.com/act/455940

Bare act section · Research

About this section

Finance Act, 2008 Section 132 is part of Finance Act, 2008 - VAT: requirement of set-off. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

1) Section 81 of VATA 1994 (set-off of credits etc) is amended as follows.

(2) For subsection (4C) substitute- "(4C) In this section, references to the application of an insolvency procedure to a person do not include-

(a) the application of an insolvency procedure to a person at a time when another insolvency procedure applies to the person, or (b) the application of an insolvency procedure to a person immediately upon another insolvency procedure ceasing to have effect."

(3) In subsection (5)-

(a) omit paragraph (a), (b) in paragraph (b)-

(i) for "that Act of 1986" substitute "the Insolvency Act 1986", and (ii) for "that Order of 1989" substitute "the Insolvency (Northern Ireland) Order 1989", and (c) before the "and" at the end of paragraph (b) insert- "(ba) "administrator" means a person appointed to manage the affairs, business and property of another person under Schedule B1 to that Act or to that Order;".

Frequently asked questions

What does Finance Act, 2008 Section 132 provide?

Section Section 132 of the Finance Act, 2008 (VAT: requirement of set-off) is reproduced on this page as part of the Finance Act, 2008. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2008 Section 132?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 132. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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