https://www.taxtmi.com/caselaws?id=425143 NAPA held that the property developer contravened section 171 of CGST Act by not passing on Input Tax Credit benefits to flat purchasers. The Authority determined the developer received additional ITC of 5.40% of turnover post-GST implementation, totaling Rs. 1,78,32,984 in profiteering. The developer was directed to refund this amount with 18% interest from the date of profiteering until payment to all homebuyers and shop buyers. While penalty provisions under section 171(3A) existed, they could not be imposed retrospectively as the violations occurred before the penalty provisions became effective from January 1, 2020. en-us Wed, 06 Jul 2022 00:00:00 +0530 Fri, 04 Apr 2025 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425143 NAPA held that the property developer contravened section 171 of CGST Act by not passing on Input Tax Credit benefits to flat purchasers. The Authority determined the developer received additional ITC of 5.40% of turnover post-GST implementation, totaling Rs. 1,78,32,984 in profiteering. The developer was directed to refund this amount with 18% interest from the date of profiteering until payment to all homebuyers and shop buyers. While penalty provisions under section 171(3A) existed, they could not be imposed retrospectively as the violations occurred before the penalty provisions became effective from January 1, 2020. Case-Laws GST Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425143