GST: Deposits made during search cannot Be Kept if Proceedings Not Initiated: HC

Parsvnath Traders Vs Principal Commissioner (Punjab and Haryana HC) The Hon’ble Punjab and Haryana High Court in M/s Parsvnath Traders v. Principal Commissioner, CGST and Another [CWP No.10923 of 2021 dated July 27, 2023] held that the deposited amount which was collected from assessee during the search proceedings is to be refunded along with interest @ 6% per annum from the date of deposit till the refund amount is released in his favour. Facts: M/s. Parsvnath Traders (“the Petitioner”) is engaged in the business of trading different types of chemicals. The Petitioner, in the normal co...