https://www.taxtmi.com/caselaws?id=427781 NAPA determined that the respondent developer realized an additional amount of Rs. 1,56,77,149/- by not passing on ITC benefits to 71 home/shop buyers during July 2017 to September 2019, violating section 171 of CGST Act. The respondent was directed to refund the profiteered amount with 18% interest within three months and reduce future prices commensurate with ITC benefits. While penalty under section 171(3A) was applicable, it could not be imposed retrospectively as the provision was inserted effective January 2020. NAPA also directed DGAP to investigate the respondent's other projects for similar contraventions. en-us Fri, 02 Sep 2022 00:00:00 +0530 Mon, 07 Apr 2025 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427781 NAPA determined that the respondent developer realized an additional amount of Rs. 1,56,77,149/- by not passing on ITC benefits to 71 home/shop buyers during July 2017 to September 2019, violating section 171 of CGST Act. The respondent was directed to refund the profiteered amount with 18% interest within three months and reduce future prices commensurate with ITC benefits. While penalty under section 171(3A) was applicable, it could not be imposed retrospectively as the provision was inserted effective January 2020. NAPA also directed DGAP to investigate the respondent's other projects for similar contraventions. Case-Laws GST Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427781