CENEX GST UPDATE - 16.03.2020

GST - Period of 7 days prescribed in Rule 159(5) of CGST Rules for moving objections to provisional attachment of bank account is merely directory and not mandatory: HC

GST - TRAN-1 - A procedural law should not take away the vested rights of persons that are provided to them by statute: HC

GST - Loss making concerns are also legally bound to pass on benefit of tax reduction and they cannot appropriate the same against their losses: NAA

GST - DGAP has not acted as a price regulator but only computed the profiteered amount, benefit of which respondent has not passed on to his customers: NAA

GST - Anti-Profiteering - No netting off can be applied in cases of profiteering as benefit has to be passed on to each customer which has to be computed on each SKU: NAA

GST - It is responsibility of anti-profiteering mechanism to ensure that benefits of tax reduction and ITC are passed on to unorganised, voiceless and vulnerable customers and suppliers are not allowed to misappropriate them: NAA

Breakwater Wall comprising of Accropodes piled on top of each other is a civil structure - no ITC in relation to supplies received in relation to its construction - AAR order upheld: AAAR