https://www.taxtmi.com/caselaws?id=425906 NAPA determined that a real estate developer profiteered Rs. 2,26,76,700 during July 2017 to December 2018 by failing to pass GST input tax credit benefits to 500 homebuyers who booked units before July 2017. The developer had properly passed benefits to 189 buyers who booked after July 2017. NAPA ordered refund of the profiteered amount with 18% interest from profiteering date until payment, and directed future price reductions commensurate with ITC benefits. No penalty was imposed as the relevant provision was not in force during the investigation period. en-us Mon, 18 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425906 NAPA determined that a real estate developer profiteered Rs. 2,26,76,700 during July 2017 to December 2018 by failing to pass GST input tax credit benefits to 500 homebuyers who booked units before July 2017. The developer had properly passed benefits to 189 buyers who booked after July 2017. NAPA ordered refund of the profiteered amount with 18% interest from profiteering date until payment, and directed future price reductions commensurate with ITC benefits. No penalty was imposed as the relevant provision was not in force during the investigation period. Case-Laws GST Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425906