https://www.taxtmi.com/caselaws?id=424285 NAPA held that a real estate developer contravened section 171 of CGST Act by failing to pass on ITC benefits to flat buyers. The developer received 11.76% ITC benefit post-GST implementation but did not reduce flat prices accordingly. NAPA ordered refund of Rs. 1,85,70,263 profiteered amount with 18% interest from profiteering date until refund. Developer must reduce future prices commensurate with ITC benefits received. Penalty imposed for violations occurring from 01.01.2020 onwards under section 171(3A) CGST Act. Application disposed. en-us Mon, 20 Jun 2022 00:00:00 +0530 Thu, 27 Feb 2025 18:48:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424285 NAPA held that a real estate developer contravened section 171 of CGST Act by failing to pass on ITC benefits to flat buyers. The developer received 11.76% ITC benefit post-GST implementation but did not reduce flat prices accordingly. NAPA ordered refund of Rs. 1,85,70,263 profiteered amount with 18% interest from profiteering date until refund. Developer must reduce future prices commensurate with ITC benefits received. Penalty imposed for violations occurring from 01.01.2020 onwards under section 171(3A) CGST Act. Application disposed. Case-Laws GST Mon, 20 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424285