Mahindra Lifespace denied benefit of ITC to Flat Buyers under Project ‘Avadi’: NAA imposes Penalty and 18% Interest

The National Anti-Profiteering Authority (NAA) imposed a penalty on M/s Mahindra Lifespace Pvt. Ltd., under Project ‘Avadi’ denied the benefit of Reduced Input Tax Credit (ITC) to the flat buyers. The Applicant, S. Ganapathi Subramanian alleged profiteering by the Respondent, M/s Mahindra Lifespace Pvt. Ltd. in respect of the purchase of a flat in the […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3jqu5Xy