TaxTMI 
TaxTMI 
TaxTMI 
Recently Supreme Court in Amrit Banaspati Company Pvt Ltd vs State of Punjab WP(c) No. 69 of 2014 has stayed the implementaion and operation of section 62(5) of Punjab VAT Act, 2005 which provides for pre-deposit of 25 percent of additional demand before entertainment of any appeal.
Now following the above stay order of the Honble Supreme Court, Punjab and Haryana High Court in Gobind Trading Company vs State of Punjab CWP No. 2342 of 2014 has also stayed said section 62(5) of Punjab VAT Act, 2005 in the same terms as in the abovenoted case by Supreme Court.
The operative part of order of Punjab & Haryana High Court in the abovenoted case is as follows:
'Learned counsel for the petitioner has relied upon order of the Honble Supreme Court dated 31.01.2014 passed in WP(C) No. 69 of 2014 whereby the Honble Apex Court has stayed operation and implementation of sub-section 5 of Section 62 of Punjab VAT Act, 2005.
Notice of motion to the respondents.
On our asking, Mr. Jagmohan Bansal, Additional Advocate General, Punjab accepts notice on behalf of respondents and prays for time to seek instructions.
Adjourned to 21.03.2014.
Interim order in the same terms as in the aforesaid petition.'
The said interim order of Punjab and Haryana High Court can be downloaded herebelow: