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Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
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The Tribunal treated the Rule 128 timeline for Standing Committee reference as directory, so procedural delay did not defeat anti-profiteering proceedings. It held that the respondent failed to pass on additional input tax credit to homebuyers, and that the profiteered amount had to include the GST component because buyers paid the higher price inclusive of tax. Interest was upheld as payable under the Rules from the dates of collection until refund. Penalty was attracted prospectively only for the period from 1 January 2020 onward, subject to the statutory relief if the amount is deposited within thirty days.
The Tribunal treated the Rule 128 timeline for Standing Committee reference as directory, so procedural delay did not defeat anti-profiteering proceedings. It held that the respondent failed to pass on additional input tax credit to homebuyers, and that the profiteered amount had to include the GST component because buyers paid the higher price inclusive of tax. Interest was upheld as payable under the Rules from the dates of collection until refund. Penalty was attracted prospectively only for the period from 1 January 2020 onward, subject to the statutory relief if the amount is deposited within thirty days.
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