Can the anti profiteering experts please share with me how in the case of car purchase profiteering could work and is there a benchmark discount for auto industry that consumer should demand as input tax credit. I would be very grateful.
Profiteering is subjective in nature and can be detected by the external auditors. If detected it will affect the credibility of the business. Unfortunately today only "fame" and "profit" matters and nobody questions how? Thus even if it is detected it doesn't matter in todays environment. Example of profiteering is Coal allocated for power plant means to produce power sold directly in the open market to earn profit more than that would have earned by generating and selling power using the same quantity of coal. If this is not happening then it is called market correction. We know how low valued shared are bought in BSE/NSE and sold later at a higher price thus correcting the valuation. The catch here is ones ability to locate the undervalued assets in the market. If you recall Kotak Mahendra initially started the business by buying Maruti cars in bulk say 10 in numbers and then leased to individuals. He has successfully identified the market needs and acted upon it and became a successful entrepreneur. Unless one is using the vehicle for business purpose one cannot claim input tax credit. Thanks more
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वित्त मंत्रालय ने संसद में बताया है कि सरकारी और पाँच प्राईवेट बैंकों ने मिलकर 2018 से लेकर अब तक जनता से शुल्क के रूप में 35000 करोड़ ₹ वसूले है। खाते में न्यूनतम रक़म नहीं होने से - 2...
By Garima Sharma
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