Service Tax Audit Stayed as SC Restores Interim Protection & Restrains CERA Action

Marwadi Shares and Finance Ltd. Vs Union of India Ors. (Supreme Court of India) Service Tax: CERA audit under Rule 5A stayed -Supreme Court restores interim protection and restrains finalisation of audit The petitioner is a registered stock broker. It received a notice for audit to be conducted by CERA. Such notice was challenged before the Hon’ble Gujarat High Court on the ground, inter alia, there is no jurisdiction to conduct audit in terms of Rule 5A of the Service Tax Rules as the same is ultra vires the provisions of the Finance Act as held by the Delhi High Court. The petiton was admi...