Promissory Estoppel – Battle has begun
NITYA Tax Associates is proud to present their recent write-up in the ‘Article’ series on trending indirect tax issues. A gist of the next article in the series is as under:
Article 43 – “Promissory Estoppel – Battle has begun”
Government introduces various industrial incentive policies for the promotion of trade, employment, sustainable economic development etc. and promises fiscal benefits to industries subject to the meeting prescribed conditions. The history reflects various policy decisions where the Government did not honor such promises and altered its original promises fully or partly under the garb of supervening public interest. Consequently, issue knocked the doors of Courts to delves upon the application of Doctrine of Promissory Estoppel.
Through this article, our Managing Partner, Mr. Puneet Bansal and Senior Associate, Ms. Neha Jain have touched upon key facets of this principle which has emerged over the years and its impact under GST law.
Please click below link to read our article titled “Promissory Estoppel – Battle has begun“ on the issue.