https://www.taxtmi.com/caselaws?id=428995 NAPA held that respondents contravened section 171 of CGST Act by failing to pass on ITC benefits to flat buyers. Analysis revealed post-GST ITC increased from 1.16% to 6.85% of turnover, creating 5.69% additional benefit. First respondent must refund Rs. 4,11,40,502 and second respondent Rs. 2,50,94,164 to respective buyers. Authority ordered 18% interest on profiteered amounts from violation date until payment. Penalty provisions under section 171(3A) could not be applied retrospectively as they became effective from 01.01.2020 while violations occurred during 01.07.2017 to 30.09.2019. en-us Fri, 30 Sep 2022 00:00:00 +0530 Thu, 10 Apr 2025 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428995 NAPA held that respondents contravened section 171 of CGST Act by failing to pass on ITC benefits to flat buyers. Analysis revealed post-GST ITC increased from 1.16% to 6.85% of turnover, creating 5.69% additional benefit. First respondent must refund Rs. 4,11,40,502 and second respondent Rs. 2,50,94,164 to respective buyers. Authority ordered 18% interest on profiteered amounts from violation date until payment. Penalty provisions under section 171(3A) could not be applied retrospectively as they became effective from 01.01.2020 while violations occurred during 01.07.2017 to 30.09.2019. Case-Laws GST Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428995