GST Section 61 Notice Cannot Question Supply Below Market Value: Jharkhand HC

Sri Ram Stone Works Vs State of Jharkhand (Jharkhand High Court) Notice u/s 61 cannot require taxpayer to defend supply at prices lower than Market Value-Jharkhand High Court; Jharkhand High Court Quashes GST Notices Over ‘Below Market Price’ Allegations; In a significant ruling clarifying the limits of tax scrutiny powers under the Goods and Services Tax (GST) regime, the Jharkhand High Court has set aside a batch of notices issued to mining businesses challenging their sale prices based on a comparison with alleged prevalent market rates. The court held that using Section 61 of t...