Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Respondent passed on the benefit of additional input tax credit to home-buyers, satisfying the anti-profiteering obligation by providing a commensurate reduction in price; the investigative report acknowledged this pass-through except for a residual payment owed to seven buyers, which the respondent agreed to remit. The tribunal accepted the investigative findings and concluded that the respondent complied with the statutory obligation to transfer GST-related ITC benefits to customers, resulting in disposal of the proceedings.
Respondent passed on the benefit of additional input tax credit to home-buyers, satisfying the anti-profiteering obligation by providing a commensurate reduction in price; the investigative report acknowledged this pass-through except for a residual payment owed to seven buyers, which the respondent agreed to remit. The tribunal accepted the investigative findings and concluded that the respondent complied with the statutory obligation to transfer GST-related ITC benefits to customers, resulting in disposal of the proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
