NCDEX E MARKETS LTD v. UNION OF INDIA – Bombay High Court
High Court, Bombay
R. I. Chagla, Justice & Advait M. Sethna, Justice
NCDEX E MARKETS LTD
v.
UNION OF INDIA
INTERIM APPLICATION No. 81 of 2026 IN WRIT PETITION No. 3121 of 2024 dated 05.05.2026
Law : GST
Act Name : Central Goods & Service Tax Act, 2017
Relevant Section : Section 107
Decision : In favour of assessee
Modification of interim order – Waiver of 10% pre-deposit condition – Interim order mandated mandatory pre-deposit of 10% of tax demanded under Section 107(6)(b) CGST Act – Applicant submitted portion of disputed amount paid under protest as TCS from April 2021, exceeding 10% ceiling – Applicant relied on Supreme Court in VVF (India) Ltd. v. State of Maharashtra holding amount paid under protest must be considered for pre-deposit requirement – Respondents contended TCS payment admitted liability from April 2021 – Held: Applicant prima facie fulfilled statutory pre-deposit requirement – Earlier order modified – No further 10% deposit required – Petition to be heard on merits.
Represented By:
Counsel for the Petitioner: V. Sridharan, a/w Adv. Rajesh Ostwal, Adv. Sriram Sridharan, a/w Adv. Aditi Jain
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