https://www.taxtmi.com/caselaws?id=425856 NAPA ruled that a real estate developer contravened Section 171 of CGST Act, 2017 by failing to pass on ITC benefits to flat buyers. The developer received additional ITC of 2.11% of turnover post-GST implementation but did not reduce flat prices accordingly. NAPA ordered the developer to refund Rs. 3,52,59,318 with 18% interest from the date of profiteering until payment, and reduce future flat prices commensurate with ITC benefits. Penalty was imposed for the period from January 1, 2020 onwards under Section 171(3A) of CGST Act. en-us Wed, 20 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425856 NAPA ruled that a real estate developer contravened Section 171 of CGST Act, 2017 by failing to pass on ITC benefits to flat buyers. The developer received additional ITC of 2.11% of turnover post-GST implementation but did not reduce flat prices accordingly. NAPA ordered the developer to refund Rs. 3,52,59,318 with 18% interest from the date of profiteering until payment, and reduce future flat prices commensurate with ITC benefits. Penalty was imposed for the period from January 1, 2020 onwards under Section 171(3A) of CGST Act. Case-Laws GST Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425856