https://www.taxtmi.com/caselaws?id=425855 NAPA found that respondent real estate developer contravened Section 171 of CGST Act, 2017 by failing to pass on input tax credit benefits of 0.46% to flat buyers during July 2017 to December 2018. Authority determined total profiteering of Rs. 49,26,054 including GST. Respondent ordered to refund profiteered amount with 18% annual interest within three months and reduce future prices commensurate with ITC benefits until completion certificate issuance. No penalty imposed as specific penalty provisions under Section 171(3A) were not in force during investigation period, only becoming effective from January 2020. en-us Tue, 19 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425855 NAPA found that respondent real estate developer contravened Section 171 of CGST Act, 2017 by failing to pass on input tax credit benefits of 0.46% to flat buyers during July 2017 to December 2018. Authority determined total profiteering of Rs. 49,26,054 including GST. Respondent ordered to refund profiteered amount with 18% annual interest within three months and reduce future prices commensurate with ITC benefits until completion certificate issuance. No penalty imposed as specific penalty provisions under Section 171(3A) were not in force during investigation period, only becoming effective from January 2020. Case-Laws GST Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425855