Live Help
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session

Builder guilty of profiteering for not passing on additional ITC benefit to buyers post GST implementation

October 5, 2019[2019] 110 65 (NAA)

GST: Where applicant alleged profiteering by respondents-seller while he had purchased flat in a project launched by respondents stating that respondent had not passed on benefit of Input Tax Credit (ITC) although it had charged GST at rate of 12 per cent with effect from 1-7-2017 from him, it was held that respondent had denied benefit of ITC to buyers of flats being constructed by it in its project in contravention of provisions of section 171(1) and had, thus, resorted to profiteering and was liable for imposition of penalty

read more
Best view in 1140 x 768