Wednesday, August 26, 2020

Penalty for Profiteering Charges can’t be imposed retrospectively: NAA [Read Order]

The National Anti-Profiteering Authority (NAA) found M/s Horizon Projects Pvt. Ltd. guilty of profiteering but did not impose the penalty for denying the benefit of Input Tax Credit (ITC) as no penalty provisions existed when the ITC was denied. The Applicant, Diwakar Bansal, alleged profiteering against the respondent, M/s Horizon Projects Pvt. Ltd. that the […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2YyHhAU

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