GST valuation of corporate guarantees challenged; interim protection granted against coercive action pending further response.

Corporate guarantees under GST were challenged on the basis that the circular and amended valuation treatment warranted immediate judicial interference. The High Court issued notice, directed filing of counter affidavit and rejoinder, and granted interim protection by ordering that no coercive action be taken against the petitioner if a final assessment order is passed or a demand is created.

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Issues: Whether the challenge to the circular and the amended valuation treatment of corporate guarantees under GST required immediate interference, and whether interim protection against coercive action was warranted pending counter affidavit.

Outcome: Notice issued. Counter affidavit and rejoinder directed. Interim protection granted by directing that no coercive action shall be taken against the petitioner in case a final assessment order is passed or a demand is created.

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