Penalty can’t be levied on Puri Construction for denying benefit of ITC to Flat Buyers: NAA [Read Order]

The National Anti-Profiteering Authority (NAA) found M/s Puri Construction Private Limited guilty of profiteering but did not impose the penalty for denying the benefit of Input Tax Credit (ITC) to Flat Buyers as no penalty provisions existed when the ITC was denied. The Applicant, Pallavai Gulati, alleged profiteering against the respondent, M/s Puri Construction Private […]

from Taxscan | Simplifying Tax Laws https://ift.tt/34DiUWn