Wednesday, August 26, 2020

No Penalty can be imposed on PVR retrospectively for denying GST rate reduction: NAA [Read Order]

The National Anti-Profiteering Authority (NAA) found M/s PVR Ltd. guilty of profiteering but did not impose the penalty for denying the benefit of Input Tax Credit (ITC) to ticket Buyers as no penalty provisions existed when the ITC was denied. The Applicant, Srinivas, alleged profiteering against the respondent, M/s PVR Limited and submitted that the […]

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

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