Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
In a real estate anti-profiteering matter, the Tribunal applied a project-wise, area-based method to quantify the benefit of GST input tax credit and upheld the DGAP's computation on the basis that post-GST credit savings had to be passed on to homebuyers. It rejected attempts to restrict the benefit to goods-related credit or to notionally adjust unavailed pre-GST service credit, and treated the respondent's verified statements as admissions that profiteering had occurred. The amount of profiteering was upheld with GST on the excess realisation, and interest was also directed from the date of payment of the last instalment by each buyer.
In a real estate anti-profiteering matter, the Tribunal applied a project-wise, area-based method to quantify the benefit of GST input tax credit and upheld the DGAP's computation on the basis that post-GST credit savings had to be passed on to homebuyers. It rejected attempts to restrict the benefit to goods-related credit or to notionally adjust unavailed pre-GST service credit, and treated the respondent's verified statements as admissions that profiteering had occurred. The amount of profiteering was upheld with GST on the excess realisation, and interest was also directed from the date of payment of the last instalment by each buyer.
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