No CGST Section 129(3) Penalty on Stock Transfers: Allahabad HC

Goverdhan Oil Mill Vs Additional Commissioner And Another (Allahabad High Court) The Allahabad High Court has nullified a penalty imposed on Goverdhan Oil Mill under Section 129(3) of the Uttar Pradesh Goods and Services Act, 2017 (UPGST Act). The court’s decision, delivered on February 8, 2024, by respondent No.1 and June 28, 2023, by respondent No.2, centered on a discrepancy in the Harmonized System of Nomenclature (HSN) code in a tax invoice related to a stock transfer. Goverdhan Oil Mill, the petitioner, argued that the case involved a stock transfer, a fact not disputed by the tax ...