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The profiteered amount calculated by the DGAP, after taking in to account the amount of ITC, should be computed again by excluding it from the ITC considered for computation of ratio of ITC to turnover, during the period from 01.07.2017 to 31.03.2019. The Report furnished by the DGAP cannot be accepted and the DGAP is directed to further investigate the present case

Anti-profiteering— The DGAP has reported that an application was filed before the Standing Committee on Anti-profiteering, under Rule 128 (1) of the CGST Rules, 2017 by the Applicant No. 1 alleging profiteering in respect of construction service supplied by the Respondent. The above Applicant had submitted that he had purchased Shop No. G-122 in the Respondent’s commercial project “U FARIA”, situated at C-04A, Sector-16B, Greater Noida, Uttar Pradesh and had alleged that the Respondent had not passed on the benefit of Input Tax Credit (ITC) to him by way of commensurate reduction in price of the shop. Held that— Perusal of the credit note issued in favour of Applicant No. 1 shows that the Respondent has claimed that an amount of Rs. 95,205/-has been passed on to him on 07.07.2018 as benefit of ITC by recording “Being GST input credit of 5% on demand raised against demand being passed on to customer”. In reply to the claim made by the Respondent the DGAP has stated vide his Report dated 31.01.2020 that the Respondent had not produced the above credit notes during the course of the investigation and hence, the above credit notes have not been verified by him. In view of the above Report of the DGAP the claim made by the Respondent that he has passed on the benefit of ITC by issuing credit notes also needs to be verified. The Report dated 24.09.2019 furnished by the DGAP cannot be accepted and the DGAP is directed to further investigate the present case under Rule 133 (4) of the CGST Rules, 2017 on the following issues:- (i) Whether the ITC amounting to Rs. 1,77,50,478/- has been blocked by the State GST authorities on 28.03.2019? (ii) Whether the above amount of ITC should be taken in to account while computing the profiteered amount during the period from 01.07.2017 to 31.03.2019? (iii) Whether the Respondent has passed on the benefit of Rs. 9,61,130/-as ITC benefit to the shop buyers during the period from 01.07.2017 to 31.03.2019? (iv) Whether the Respondent has passed on an amount of Rs. 95,205/- as ITC benefit to the Applicant No. 1?
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