Mis-declaration and Concealment: confiscation affirmed, transaction value re-determined and mandatory penalty sustained; redemption allowed on payment...
Investigation under anti-profiteering examined whether the supplier passed on Input Tax Credit (ITC) benefits to eligible recipients; DGAP verified buyer-wise disbursements and compliance submissions, finding the supplier passed on a greater total benefit than the initially determined profiteering amount and remitted outstanding amounts to individual recipients. The DGAP report was accepted and the supplier was held to have discharged the statutory obligation to pass on ITC benefits in respect of construction services, resulting in closure of proceedings and no further action required.
Investigation under anti-profiteering examined whether the supplier passed on Input Tax Credit (ITC) benefits to eligible recipients; DGAP verified buyer-wise disbursements and compliance submissions, finding the supplier passed on a greater total benefit than the initially determined profiteering amount and remitted outstanding amounts to individual recipients. The DGAP report was accepted and the supplier was held to have discharged the statutory obligation to pass on ITC benefits in respect of construction services, resulting in closure of proceedings and no further action required.
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