NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Where CGST authorities have already initiated proceedings on a given subject matter, the State GST authorities lack jurisdiction to commence parallel/dual proceedings on the same subject matter, being barred by Section 6(2)(b) of the CGST Act. Applying this statutory bar and the binding principle that only the originally seized GST authority can proceed further in accordance with law, the subsequent State-initiated show-cause notice and adjudication actions were held not maintainable. Consequently, the impugned State show-cause notice, order-in-original, adjudication order, and summary orders were quashed and the writ petition was allowed. - HC
Where CGST authorities have already initiated proceedings on a given subject matter, the State GST authorities lack jurisdiction to commence parallel/dual proceedings on the same subject matter, being barred by Section 6(2)(b) of the CGST Act. Applying this statutory bar and the binding principle that only the originally seized GST authority can proceed further in accordance with law, the subsequent State-initiated show-cause notice and adjudication actions were held not maintainable. Consequently, the impugned State show-cause notice, order-in-original, adjudication order, and summary orders were quashed and the writ petition was allowed. - HC
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