NCLT imposes 'cost' on GST

The Hon'ble SC in the case ofo Sundaresh Bhatt, Liquidator of ABG Shipyard v. Central Board of Indirect Taxes and Customs [C.A.No. 7667/2021 dt. 26-08-2022] held - Once moratorium is imposed in terms of Sections 14 or 33(5) of the IBC as the case may be, the respondent authority only has a limited jurisdiction to assess/determine the quantum of customs duty and other levies. The respondent authority does not have the power to initiate recovery of dues by means of sale/confiscation, as provided under the Customs Act.
Taking note of this judgement, the authorities would have resorted to investigation to issue a demand and later adjudicate.
It is settled law that Tribunals are creature of the statute. They can act only to the extent of powers conferred under the statute and cannot act as Courts of Equity unlike HC [Art. 226] or Sc [Art. 32]
But then who would not like to exercise power.

CESTAT Hyderabad 14/08/2023