https://www.taxtmi.com/caselaws?id=426034 NAPA found respondent builder guilty of profiteering by not passing on ITC benefits to flat buyers in project. Investigation revealed ITC availability increased from 1.17% to 13.52% post-GST, creating net benefit of 12.36% totaling Rs. 40,94,480 for 21 customers. Authority directed respondent to pass on profiteered amount with 18% interest from profiteering date till payment. Penalty imposed under Section 171(3A) CGST Act for amount profiteered from January 1, 2020 onwards, as provision became operational from that date. 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=426034 NAPA found respondent builder guilty of profiteering by not passing on ITC benefits to flat buyers in project. Investigation revealed ITC availability increased from 1.17% to 13.52% post-GST, creating net benefit of 12.36% totaling Rs. 40,94,480 for 21 customers. Authority directed respondent to pass on profiteered amount with 18% interest from profiteering date till payment. Penalty imposed under Section 171(3A) CGST Act for amount profiteered from January 1, 2020 onwards, as provision became operational from that date. Case-Laws GST Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426034