https://www.taxtmi.com/caselaws?id=428903 NAPA found respondent developer profiteered Rs. 6,89,62,698 by not passing ITC benefits to flat buyers in Project Godrej 24 during July 2017-December 2018. Post-GST, respondent's ITC increased from 3.02% to 6.66% of turnover, creating additional benefit of 3.64% that should have been passed to customers. NAPA ordered respondent to reduce prices commensurate with ITC benefit and pay 18% interest on profiteered amount. However, penalty under Section 171(3A) CGST Act could not be imposed as provision was inserted effective January 2020, after the violation period. Application disposed. en-us Fri, 30 Sep 2022 00:00:00 +0530 Thu, 10 Apr 2025 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428903 NAPA found respondent developer profiteered Rs. 6,89,62,698 by not passing ITC benefits to flat buyers in Project Godrej 24 during July 2017-December 2018. Post-GST, respondent's ITC increased from 3.02% to 6.66% of turnover, creating additional benefit of 3.64% that should have been passed to customers. NAPA ordered respondent to reduce prices commensurate with ITC benefit and pay 18% interest on profiteered amount. However, penalty under Section 171(3A) CGST Act could not be imposed as provision was inserted effective January 2020, after the violation period. Application disposed. Case-Laws GST Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428903