https://www.taxtmi.com/caselaws?id=428687 NAPA held that the respondent builder contravened Section 171 of CGST Act 2017 by not passing input tax credit benefits to flat buyers in a housing project. The Authority determined the respondent profiteered Rs. 12,78,61,818 from 535 buyers during July 2017 to September 2020. The respondent was directed to refund the profiteered amount with 18% annual interest within three months. Penalty was imposed for violations from January 2020 onwards when the penalty provision became effective. NAPA ordered future price reductions commensurate with ITC benefits and directed investigation into the respondent's other projects for similar contraventions. en-us Wed, 28 Sep 2022 00:00:00 +0530 Thu, 10 Apr 2025 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428687 NAPA held that the respondent builder contravened Section 171 of CGST Act 2017 by not passing input tax credit benefits to flat buyers in a housing project. The Authority determined the respondent profiteered Rs. 12,78,61,818 from 535 buyers during July 2017 to September 2020. The respondent was directed to refund the profiteered amount with 18% annual interest within three months. Penalty was imposed for violations from January 2020 onwards when the penalty provision became effective. NAPA ordered future price reductions commensurate with ITC benefits and directed investigation into the respondent's other projects for similar contraventions. Case-Laws GST Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428687