https://www.taxtmi.com/news?id=18195 Input tax credit under GST will offset the headline GST on construction services, removing cascading taxes previously embedded in flat prices; builders should not charge higher tax on instalments received after GST implementation, and attempting to do so may amount to profiteering under section 171, while refunds of overflow input credits to builders are disallowed to ensure credits are used against tax liabilities. en-us Thu, 15 Jun 2017 18:07:30 +0530 Thu, 15 Jun 2017 18:07:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18195 Input tax credit under GST will offset the headline GST on construction services, removing cascading taxes previously embedded in flat prices; builders should not charge higher tax on instalments received after GST implementation, and attempting to do so may amount to profiteering under section 171, while refunds of overflow input credits to builders are disallowed to ensure credits are used against tax liabilities. News - Thu, 15 Jun 2017 18:07:30 +0530 https://www.taxtmi.com/news?id=18195