DGAP investigation happened between November 15, 2017 to December 31, 2018, the NAA said, asking it to conduct further investigation to ascertain whether the benefits were passed on after December 2018 and file a report with NAA.
The DGAP found that the real estate firm benefitted from additional ITC post the introduction of Goods and Services Tax between July 1, 2017-March 31, 2019, and over Rs 6.46 crore should be passed on to the buyers in the project.
The government has extended the deadline till March 31, 2021 for completing GST anti-profiteering investigations, which were to be completed by November this year. Through a notification, the Central Board of Indirect Taxes and Customs (CBIC) extended the deadline for completion of such investigations by authorities, like DGAP, under section 171 of GST Act, till March 31, 2021. In September, CBIC had extended the deadline till November 30, 2020. Section 171 of GST Act deals with anti-profiteering measures. Under the GST law, a National Anti-Profiteering Authority (NAA) and a Standing Committee on anti-profiteering have been set up to examine complaints of not passing on tax rate cut benefits to consumers. GST was rolled out on July 1, 2017.
Govt extends deadline for completing GST anti-profiteering probe till March 2021
NEW DELHI: The Government has extended the deadline till March 31, 2021 for completing GST anti-profiteering investigations, which were to be completed by November this year.
Through a notification, the Central Board of Indirect Taxes and Customs (CBIC) extended the deadline for completion of such investigations by authorities, like DGAP, under section 171 of GST Act, till March 31, 2021.
In September, CBIC had extended the deadline till November 30, 2020.
Section 171 of GST Act deals with anti-profiteering measures.
Under the GST law, a National Anti-Profiteering Authority (NAA) and a Standing Committee on anti-profiteering have been set up to examine complaints of not passing on tax rate cut benefits to consumers. GST was rolled out on July 1, 2017.