https://www.taxtmi.com/caselaws?id=423157 NAPA held that a real estate developer contravened section 171 of CGST Act by not passing ITC benefits to flat buyers. The developer received additional ITC of 1.85% of turnover in post-GST period compared to 0.00% in pre-GST period. NAPA ordered the developer to pass on the profiteered amount to buyers with 18% interest and reduce future prices commensurate with ITC benefits received. No penalty was imposed as penal provisions under section 171(3A) were not applicable retrospectively, being operational only from 01.01.2020 while profiteering occurred during 2017-2019. en-us Fri, 27 May 2022 00:00:00 +0530 Thu, 03 Apr 2025 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423157 NAPA held that a real estate developer contravened section 171 of CGST Act by not passing ITC benefits to flat buyers. The developer received additional ITC of 1.85% of turnover in post-GST period compared to 0.00% in pre-GST period. NAPA ordered the developer to pass on the profiteered amount to buyers with 18% interest and reduce future prices commensurate with ITC benefits received. No penalty was imposed as penal provisions under section 171(3A) were not applicable retrospectively, being operational only from 01.01.2020 while profiteering occurred during 2017-2019. Case-Laws GST Fri, 27 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423157