https://www.taxtmi.com/caselaws?id=424234 NAPA held that respondent developer contravened Section 171 of CGST Act by failing to pass on additional Input Tax Credit benefit of 3.07% to 736 homebuyers in Project Suncity Avenue-102. Authority determined profiteering amount of Rs. 2,62,56,652 must be returned to recipients with 18% interest from profiteering date. Respondent directed to reduce flat prices commensurate with ITC benefit received. However, penalty under Section 171(3A) could not be imposed retrospectively as provision was inserted after violation period (01.07.2017 to 08.08.2019). Application disposed of within prescribed limitation period. en-us Tue, 14 Jun 2022 00:00:00 +0530 Thu, 03 Apr 2025 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424234 NAPA held that respondent developer contravened Section 171 of CGST Act by failing to pass on additional Input Tax Credit benefit of 3.07% to 736 homebuyers in Project Suncity Avenue-102. Authority determined profiteering amount of Rs. 2,62,56,652 must be returned to recipients with 18% interest from profiteering date. Respondent directed to reduce flat prices commensurate with ITC benefit received. However, penalty under Section 171(3A) could not be imposed retrospectively as provision was inserted after violation period (01.07.2017 to 08.08.2019). Application disposed of within prescribed limitation period. Case-Laws GST Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424234