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HomeGSTGST Demand on PSLC Transactions Quashed, Says Liability Can’t Be Shifted Without...

GST Demand on PSLC Transactions Quashed, Says Liability Can’t Be Shifted Without RBI Clarification: Allahabad High Court

GST

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By Mariya Paliwala
Allahabad High Court

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The Allahabad High Court (Lucknow Bench) has quashed a GST demand order passed against Prathama U.P. Gramin Bank, holding that tax liability cannot be imposed on the seller of Priority Sector Lending Certificates (PSLCs) without proper inquiry and clarification from the Reserve Bank of India. The division bench comprising Justice Shekhar B. Saraf and Justice…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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