Income from shares is not taxable under GST : Orissa HC

 

Orissa HC – Samarth Commodities Merchants (P.) Ltd. v. Commissioner, GST & Central Excise [W.P.(C) NO.8586 OF 2024

The petitioner has filed this writ petition seeking to quash the demand arising out of GST DRC-07 and Order-in-Original dated 18.12.2023 .

The assessee  contended that income from shares is not taxable and it is beyond the purview of GST.The authority without considering the same, has issued a fresh demand which cannot be sustained in the eye of law.The assessee filed a writ petition to quash the demand.

The court held that, as per Circular No.196/08/2023-GST dated 17.07.2023 issued by the Government of India, income from shares is not taxable, and thus quashed the demand.

The copy of the order is as under:

 

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