Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
HC dismissed the premature writ petition challenging tax liability on royalty under KGST/CGST Act. The disputed Annexure-D was merely an intimation of ascertained tax under s.73(5), providing opportunity to either pay with interest or file submissions. No formal show cause notice under s.73(1) or final order under s.73(9) had been issued yet. The court held that petitioner retained remedy to file submissions against the intimation, and formal adjudication process including show cause notice would follow only upon non-payment. Given the preliminary stage of proceedings, petition was rejected as premature.
HC dismissed the premature writ petition challenging tax liability on royalty under KGST/CGST Act. The disputed Annexure-D was merely an intimation of ascertained tax under s.73(5), providing opportunity to either pay with interest or file submissions. No formal show cause notice under s.73(1) or final order under s.73(9) had been issued yet. The court held that petitioner retained remedy to file submissions against the intimation, and formal adjudication process including show cause notice would follow only upon non-payment. Given the preliminary stage of proceedings, petition was rejected as premature.
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