The National Anti-Profiteering Authority (NAA) for goods and services tax is likely to deliver orders, starting next month, in around 60 profiteering cases filed by homebuyers against the builders from across the country. The Director General of Anti-Profiteering (DGAP), the investigation arm of the NAA, has submitted probe reports in two-third of the cases to the quasi-judicial body which is hearing the cases. The ITC mechanism in GST was introduced for the sector to prevent the cascading effect of tax. However, the customers can approach anti-profiteering authorities at any point of time with regards to the old cases. Under the multi-tier anti-profiteering mechanism, state-level screening committee examines the state-level complaint and recommends to the national-level standing committee.

Source: dna September 29, 2019 23:26 UTC