2026 (1) TMI 1497

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....es, 2017 (hereinafter referred to as the Rules). The investigation was initiated pursuant to a reference made by the Standing Committee on Anti-Profiteering on the basis of an application filed by Shri Abhay Yagnesh Desai, residing at 56, Tarang Society, B.P.C. Road, Opposite Akota Stadium, Akota, Vadodara-390020 (hereinafter referred to as the Applicant). The Applicant alleged that M/s Axis Infratech LLP, formerly known as M/s Axis Infratech Pvt. Ltd., having its registered office at 24K, Beside PF Office, Near Ward No. 6 Office, Old Padra Road, Vadodara, Gujarat- 390020, bearing GSTIN 24ABGFA3193H1ZK (hereinafter referred to as the Respondent), had contravened the provisions of Section 171 of the CGST Act by failing to pass on the bene....

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....5%) applied to the post- GST purchase value of Rs. 17,29,33,128/-, yielding total project savings of Rs. 42,02,275/- and per sq. ft. benefit of Rs. 89.58/- over the total sold area of 25,705 sq. ft. prior to Completion Certificate. 4. The DGAP further verified that the Respondent had already passed on ITC benefits exceeding the computed amount in most cases, totaling Rs. 42,03,560/- across the 11 buyers, as confirmed through buyer acknowledgments and final invoices, resulting in net excess benefits for 10 buyers. DGAP further observed that benefit of Rs. 17,829/- is yet to be passed on to Shri Mukesh B Kewalramani (Flat No. 1101), representing the difference between the computed profiteering of Rs. 3,21,793/- and the benefit already pass....

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....submission dated 15.12.2025, the buyer-wise confirmations reflected in Table-E of the DGAP Report. It is observed that although profiteering was initially determined to the extent of Rs. 25,78,971/- (comprising base amount of Rs. 23,02,653/- and GST of Rs. 2,76,318/-) on account of an incremental Input Tax Credit ratio of 2.43%, the Respondent has passed on a total benefit amounting to Rs. 42,03,560/- to all 11 eligible homebuyers. Further, with respect to the amount of Rs. 17,829/- that was required to be passed on to Shri Mukesh B. Kewalramani, it is observed that the Respondent has duly transferred the said amount through NEFT reference no. 1370645417 dated 13.12.2025. Accordingly, it is held that the Respondent has fully discharged its ....