IBC and GST Harmonizing Revenue and Revival

Interplay of IBC and GST- where Revenue Interest meets Revival. After eight years of implementation, the Insolvency and Bankruptcy Code has showcased its transformative power, yet it now finds itself at a crucial juncture. With increasing case volumes, extended litigations, value erosion during Corporate Insolvency Resolution Process (CIRP), and emerging complexities surrounding group insolvencies and cross-border assets, the call for a second-generation framework is both timely and strategic. IBC 2.0 must emphasize speed, predictability, and value maximization. Key actions include: - Strengthening the capacity of the National Company Law Tribunal (NCLT) - Institutionalizing pre-pack models - Clarifying creditor priorities, particularly regarding government dues - Implementing digital case management to restore creditor confidence and enhance recovery outcomes A look at where we stand by J the App by JustIDT