Anutone Acoustics Guilty of not passing ITC benefit to one of its Customers: NAA

Deshpande Constructions (Prop Shri Sunil V. Deshpande) Vs Anutone Acoustics Ltd. (NAA) The issue to be examined by the Authority is as to whether there was any net benefit of ITC with the introduction of GST. On this issue it has been revealed from the DGAP’s Report that, the Respondent should have reduced the base prices to the extent of the Additional Duty of Customs (referred as CVD) that was no longer to be paid by the Respondent as well as to the extent of the IGST paid at the time of import, the credit of which was now available. This proceeds on the fact that, in the GST period, t...