Summary
- The National Company Law Tribunal (NCLT) in Chennai has raised concerns over a 1% success fee claimed by Ernst & Young LLP for obtaining relief in GST cases.
- This inquiry arises from the case of EY v. Mobase Electronics, where the tribunal scrutinized the fee structure.
- A Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy is overseeing the matter.
- The NCLT has requested the Institute of Chartered Accountants of India (ICAI) to examine this fee arrangement, potentially impacting future GST proceedings.
Join the discussion ā sign up to comment, upvote, and save articles.