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<h1>High Court grants stay on directions related to CGST Act, 2017. Petition allowed, further examination scheduled.</h1> The High Court granted a stay on the operation of directions in a specific order related to the Central Goods and Services Tax Act, 2017. The petition was ... Stay on the operation of the directions - Input tax credit - HELD THAT:- This direction is being passed, for the present, as Mr. Monish Panda, who appears on behalf of the petitioner, says that after 01.07.2017 [when the Central Goods and Services Tax Act, 2017 and the Rules framed there under kicked-in] the petitioner was not required to pass on input tax credit or reduction in tax to those flat buyers with whom negotiated contracts were executed post 01.07.2017. Even qua these contracts, insofar as reduction in taxes are concerned, nothing could have been passed on as there was no reduction in taxes. This aspect of the matter will be examined after returns are filed by the respondents - List the matter on 30.04.2021. Issues involved: Stay on operation of directions in a specific order related to the Central Goods and Services Tax Act, 2017 and rules framed thereunder.The High Court, comprising Hon'ble Mr. Justice Rajiv Shakdher and Hon'ble Mr. Justice Talwant Singh, allowed the petition subject to exceptions. Issue notice was directed to the respondents, with Mr. Ravi Prakash accepting service on behalf of respondent nos. 2 and 3, and Mr. Vikas Mahajan accepting service on behalf of respondent no. 1. The Court ordered a stay on the operation of the directions contained in paragraph 23 of an order dated 09.12.2020 passed by respondent no. 2. This stay was granted as per the petitioner's contention that post 01.07.2017, they were not required to pass on input tax credit or reduction in tax to flat buyers with whom negotiated contracts were executed, as no reduction in taxes occurred. The Court decided to examine this aspect further after the respondents filed their returns. Mr. Ravi Prakash was granted four weeks to file a counter-affidavit, with any rejoinder to be filed before the next hearing scheduled for 30.04.2021.
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