71A. Power to write off Government dues.- In the case of insolvency of a person or dissolution of an organization or for any other reasons, it is certain that value added tax or, where applicable, value added tax and supplementary duty imposed or monetary penalty charged or any amount of money demanded under any undertaking or other document executed under this Act or the rules made thereunder cannot be recovered under section 56 of this Act, the Government may, write off such dues:
Provided that whatever be there in the provisions of other Acts, following writing off of government dues, if it is proved that any property of the responsible person or establishment has been arisen anew, or previously with the view to be immune from
government dues, the concerned person or establishment has become bankrupt with unfair objective of handing over their own properties to other persons or establishments; then there will be priority upon those properties to realize government arrear and that will be realized in the manner as if all responsibility of paying government arrear has been fallen upon the person having the newly arisen property or receiver of property with dishonest desire.
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