Section 67(1) in The Goa Value Added Tax Act, 2005
(1)Where, during the pendency of any proceeding under this Act or after the completion thereof, any dealer liable to pay tax or any other sum payable under this Act, the total amount of which exceeds rupees twenty five thousand, creates a charge on, or parts with the possession by any mode of transfer whatsoever including sale, mortgage, gift or exchange of any of the assets of his business valued at rupees ten thousand or more in favour of any other person, then, notwithstanding anything contained in any Act or contract to the contrary such charge or transfer shall be void as against any claim in respect of any tax or other sum payable by the dealer as a result of the completion of such proceeding or otherwise:Provided that, such charge or transfer shall not be void if made for adequate consideration and without notice of the pendency of the proceeding.
