https://www.taxtmi.com/caselaws?id=426032 NAPA ruled against a real estate developer for failing to pass on Input Tax Credit benefits to flat purchasers, violating Section 171 of GST Act. The developer profiteered Rs. 6,87,58,686 (4.25% of turnover) during July 2017-December 2019. NAPA ordered refund of the profiteered amount plus 18% interest from the date of profiteering until payment. However, penalty under Section 171(3A) could not be imposed retrospectively as the provision was enacted after the violation period ended. en-us Tue, 26 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426032 NAPA ruled against a real estate developer for failing to pass on Input Tax Credit benefits to flat purchasers, violating Section 171 of GST Act. The developer profiteered Rs. 6,87,58,686 (4.25% of turnover) during July 2017-December 2019. NAPA ordered refund of the profiteered amount plus 18% interest from the date of profiteering until payment. However, penalty under Section 171(3A) could not be imposed retrospectively as the provision was enacted after the violation period ended. Case-Laws GST Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426032