https://www.taxtmi.com/article/detailed?id=8192 The Authority concluded there was contravention of the statutory anti profiteering obligation where the developer failed to pass Input Tax Credit benefits to buyers after GST introduction, and directed the developer to pass the ITC benefit to all identifiable buyers, refund or reduce amounts due to each buyer with interest from the date of receipt of excess amounts, and to be issued a show cause notice for penalty proceedings, with state tax authorities tasked to monitor implementation. en-us Mon, 08 Oct 2018 07:14:58 +0530 Mon, 08 Oct 2018 07:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8192 The Authority concluded there was contravention of the statutory anti profiteering obligation where the developer failed to pass Input Tax Credit benefits to buyers after GST introduction, and directed the developer to pass the ITC benefit to all identifiable buyers, refund or reduce amounts due to each buyer with interest from the date of receipt of excess amounts, and to be issued a show cause notice for penalty proceedings, with state tax authorities tasked to monitor implementation. Articles Goods and Services Tax - GST Mon, 08 Oct 2018 07:14:58 +0530 https://www.taxtmi.com/article/detailed?id=8192