Brand Equity judgment continue to apply despite retrospective amendment to Section 140: Delhi HC

SKH Sheet Metals Components Vs Union of India & Ors. (Delhi High Court) Delhi High Court in its judgment pronounced today has held that judgment in Brand Equity will continue to apply  in-spite of retrospective amendment to Section 140 by The Finance (Amendment) Act, 2020. It is argued that in view of retrospective amendment to Section 140 of the CGST Act, 2017, introduced by the Finance (Amendment) Act, 2020, there has been a relevant change in circumstances and thus the above-said decision is no longer valid. The power to prescribe a time limit for filing TRAN-1 has been provided by the...