Rule 151 CGST Rules 2017 : Attachment of debts and shares, etc.

By | July 14, 2017
(Last Updated On: July 9, 2018)

 Rule 151 CGST Rules 2017

Summary of Rule 151 CGST Rules 2017

( Rule 151 CGST Rules 2017 explains Attachment of debts and shares, etc.  and is covered in Chapter XVIII  – Demands and Recovery   : Inserted by the Central Goods and Services Tax (Third Amendment) Rules, 2017, w.e.f. 1-7-2017.)

 Rule 151 CGST Rules 2017

Attachment of debts and shares, etc.

151. (1) A debt not secured by a negotiable instrument, a share in a corporation, or other movable property not in the possession of the defaulter except for property deposited in, or in the custody of any court shall be attached by a written order in FORM GST DRC-16 prohibiting—

(a)in the case of a debt, the creditor from recovering the debt and the debtor from making payment thereof until the receipt of a further order from the proper officer;
(b)in the case of a share, the person in whose name the share may be standing from transferring the same or receiving any dividend thereon;
(c)in the case of any other movable property, the person in possession of the same from giving it to the defaulter.

(2) A copy of such order shall be affixed on some conspicuous part of the office of the proper officer, and another copy shall be sent, in the case of debt, to the debtor, and in the case of shares, to the registered address of the corporation and in the case of other movable property, to the person in possession of the same.

(3) A debtor, prohibited under clause (a) of sub-rule (1), may pay the amount of his debt to the proper officer, and such payment shall be deemed as paid to the defaulter.


 Rule 151 CGST Rules 2017

Also refer CBIC Website Click here 

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