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In the present petition, the Petitioner is willing to offer a valuable security, being an immovable property, which can secure the interest of the Revenue for the tax amount in dispute and the attachment order in respect of the bank accounts may be lifted.

Section 83 of the CGST Act, 2017—Provisional attachment -- The petitioners challenged freezing of his bank accounts. This court on 7th January, 2021, had passed an interim order granting permission to the Petitioner to use the overdraft facility. The respondent counsel submitted that respondent is conducting an inquiry in connection with fraudulent availing of and passing on of ineligible ITC. The petitioner counsel submitted that he is willing to offer a valuable security, being an immovable property for attachment, in lieu of the bank accounts. The respondent counsel submitted that no proposal or offer has been received from the Petitioner. Held that:-The Hon’ble High Court directed that the Petitioner shall submit a proposal to the Respondents, giving the complete particulars of the immovable property, within a week. The Respondent shall consider the proposal and take a decision on the same within a period of 45 days from the date of receipt of the offer. List on 15th April, 2021.