https://www.taxtmi.com/caselaws?id=428616 NAPA held that the respondent construction company contravened Section 171 of CGST Act, 2017 by not passing on ITC benefits to flat buyers. The Authority found profiteering of Rs. 4,75,87,468 for Project SKA Green Arch during July 2017 to October 2020, as ITC percentage increased from 0.76% pre-GST to 9.13% post-GST. The respondent was ordered to reduce prices commensurate with ITC benefits and refund the profiteered amount with 18% interest. Penalty proceedings were initiated for the period from January 2020 onwards under Section 171(3A). en-us Tue, 13 Sep 2022 00:00:00 +0530 Thu, 10 Apr 2025 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428616 NAPA held that the respondent construction company contravened Section 171 of CGST Act, 2017 by not passing on ITC benefits to flat buyers. The Authority found profiteering of Rs. 4,75,87,468 for Project SKA Green Arch during July 2017 to October 2020, as ITC percentage increased from 0.76% pre-GST to 9.13% post-GST. The respondent was ordered to reduce prices commensurate with ITC benefits and refund the profiteered amount with 18% interest. Penalty proceedings were initiated for the period from January 2020 onwards under Section 171(3A). Case-Laws GST Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428616