https://www.taxtmi.com/caselaws?id=788547 An increase in the ratio of input tax credit to purchase value after GST was found, creating an additional ITC benefit of 0.23% of purchase value. That benefit had to be passed on to identifiable homebuyers under Section 171 of the CGST Act, and the respondent was found not to have done so. The unpassed benefit was quantified at Rs. 11,91,763 and is to be refunded to eligible buyers with interest at 18% per annum from the respective dates of excess collection until actual refund. Penalty under Section 171(3A) is also attracted in respect of the profiteered amount, subject to the proviso on timely deposit. en-us Fri, 20 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788547 An increase in the ratio of input tax credit to purchase value after GST was found, creating an additional ITC benefit of 0.23% of purchase value. That benefit had to be passed on to identifiable homebuyers under Section 171 of the CGST Act, and the respondent was found not to have done so. The unpassed benefit was quantified at Rs. 11,91,763 and is to be refunded to eligible buyers with interest at 18% per annum from the respective dates of excess collection until actual refund. Penalty under Section 171(3A) is also attracted in respect of the profiteered amount, subject to the proviso on timely deposit. Case-Laws GST Fri, 20 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788547