GST- Goods And Service Tax
Note:Image should be of size 502px * 502px
National Anti Profiteering Authority imposes penalty on builder for not passing Input tax credit benefit to the customer
Applicants who are home buyers, bought houses under affordable housing policy, and have paid excise and vat. After GST introduction 12% tax was levied on construction services which was reduced to 8% from jan 2018. But Builder didn’t passed on the accrued benefit to the flat buyer against which buyers appealed in National Anti-profiteering Authority.
NAA held that sole purpose to provide concession in tax from 12 to 8% was to reduce flat prices charged by the builders and thereby a weaker section of the society can benefit from the state’s affordable housing policy, since the builder didn’t reduced the final price of flats and failed to pass the ITC benefit to the flat buyers (hereby consumers) builder is instructed to reduce the price to be recovered from buyers.
100% Practical and job oriented courses on Complete Accounts upto finalization, Complete Direct Indirect Taxation GST, TDS, ITR filing, SAP ERP, Payroll Mgmt, Excel VBA Macros, and a lot more
Visit us : https://ibajobs.in/
For demo lectures sign up on https://livetraining.ibajobs.in/ call or whatsapp 9820337194
Institute of Business Applications
‘Believe in Practical Training’