Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
The respondent commenced a real estate project "Swastik Heights" in the post-GST regime, with commencement certificate issued on 08.03.2018 and GST registration effective from 27.02.2018. Initially, GST was charged at 8% with input tax credit (ITC). From 01.04.2019, the respondent had the option to charge either 8% GST with ITC or 1% without ITC, but continued charging 8% with ITC. The Commission observed that since the project commenced in the post-GST period, there was no benefit of rate reduction or additional ITC compared to the pre-GST period that the respondent was obligated to pass on to buyers u/s 171(1) of the CGST Act, 2017. Consequently, the allegations of profiteering were found untenable, and proceedings were dropped.
The respondent commenced a real estate project "Swastik Heights" in the post-GST regime, with commencement certificate issued on 08.03.2018 and GST registration effective from 27.02.2018. Initially, GST was charged at 8% with input tax credit (ITC). From 01.04.2019, the respondent had the option to charge either 8% GST with ITC or 1% without ITC, but continued charging 8% with ITC. The Commission observed that since the project commenced in the post-GST period, there was no benefit of rate reduction or additional ITC compared to the pre-GST period that the respondent was obligated to pass on to buyers u/s 171(1) of the CGST Act, 2017. Consequently, the allegations of profiteering were found untenable, and proceedings were dropped.
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