https://www.taxtmi.com/caselaws?id=424443 NAPA found that a real estate developer failed to pass on ITC benefits of Rs. 1,54,269 to homebuyers for Celebrity Garden Block K project during July 2017 to September 2019, violating Section 171 of CGST Act 2017. The Authority ordered the developer to reduce future flat prices commensurate with ITC benefits received and directed refund of the profiteered amount with 18% interest to affected buyers, subject to verification by CGST/SGST Commissionerate. However, penalty under Section 171(3A) could not be imposed retrospectively as the provision came into force from January 2020 while violations occurred earlier. en-us Fri, 24 Jun 2022 00:00:00 +0530 Thu, 03 Apr 2025 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424443 NAPA found that a real estate developer failed to pass on ITC benefits of Rs. 1,54,269 to homebuyers for Celebrity Garden Block K project during July 2017 to September 2019, violating Section 171 of CGST Act 2017. The Authority ordered the developer to reduce future flat prices commensurate with ITC benefits received and directed refund of the profiteered amount with 18% interest to affected buyers, subject to verification by CGST/SGST Commissionerate. However, penalty under Section 171(3A) could not be imposed retrospectively as the provision came into force from January 2020 while violations occurred earlier. Case-Laws GST Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424443