CGST Rules Rule 153 — Attachment of interest in partnership
CGST Rules, 2017 · Attachment of interest in partnership
Quick Answer
Rule 153 of the CGST Rules, 2017 governs Attachment of interest in partnership. It establishes the detailed procedural framework and compliance requirements necessary to implement the corresponding provisions of the CGST Act. Rule 153 CGST: Attachment of interest in partnership — eligibility, conditions, case laws and compliance impact under Indian tax law.
(1)Where the property to be attached consists of an interest of the defaulter, being a partner, in the partnership property, the proper officer may make an order charging the share of such partner in the partnership property and profits with payment of the amount due under the certificate, and may, by the same or subsequent order, appoint a receiver of the share of such partner in the profits, whether already declared or accruing, and of any other money which may become due to him in respect of the partnership, and direct accounts and enquiries and make an order for the sale of such interest or such other order as the circumstances of the case may require.
(2)The other partners shall be at liberty at any time to redeem the interest charged or, in the case of a sale being directed, to purchase the same.
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CGST Rules Rule 153 was introduced as part of the CGST Rules, 2017.