Firms buying stressed assets may get tax relief The government is considering giving tax relief to companies that acquire stressed assets under the insolvency process.Some of such steps like carrying forward tax holidays may come up in the Budget, while the government may approach the goods and services tax (GST) Council for giving relief on the GST. For tax relief on the stamp duty, states’ cooperation might be sought, sources said. Companies going through the insolvency procedure face tax-related road blocks, making the resolution process tedious. For example, they pay the GST on sales of assets as well as brands, royalty, etc. Earlier, under the Sick Industrial Companies (Special Provisions) Act, companies were given exemptions from the central sales tax (CST). With the advent of the GST, the CST is no longer there. Exemption from the GST will help companies bid for assets at higher prices, resulting in more funds for lenders. “If GST exemption is granted for assets sold pur