2026 (2) TMI 381

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....te reduction in the price on purchase of a Villa having Number D3 in the aforesaid Project on introduction of GST w.e.f. 01.07.2017, in terms of Section 171 of the Central Goods and Services Tax Act, 2017. 2. The Standing Committee examined the matter and forwarded it to the Director General on Anti-profiteering, hereinafter DGAP, to conduct detailed investigation. 3. The DGAP initiated the investigation and issued notice to the Respondent. The Respondent pursuant to the notice, dated 08.10.2024, submitted its reply along with documents/information which are duly considered during the investigation. 4. The DGAP found that the Respondent has opted for new scheme for discharging GST @ 5% without ITC benefit w.e.f. 01.04.2019. ITC has....

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....sion with relevant annexures. It was submitted by the Respondent that actual prices charge was less than the adjusted expected cost, confirming that more than the statutory benefit was transferred to the buyers. It is shown that post-GST price was lower than the pre-GST rate after factoring in the ITC benefit calculated by the DGAP. Reduction in price is not limited to the ITC benefit alone-cost escalation in cement, labour, steel and other materials were observed by the Respondent and not passed on to the customers. The actual prices charged were less than the adjusted accepted cost confirming that more than the statutory benefit was transferred to the buyers. 8. It was argued that against the alleged profiteering amount Rs. 32.78/-, th....

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.... Price Increase absorbed by Developer 173 Respondent absorbed additional cost, passing on greater benefit than required   11. It is further submitted that the revised expected cost in all was Rs. 3,511/-, while actual amount which is charged from the Complainant is Rs. 3,338/-. Therefore, deducting this amount from revised expected cost price increase comes to Rs. 173/. This amount is passed by the Respondent to the complainant against the alleged amount of profiteering as calculated Rs. 32.78 by the DGAP. Besides this, the year wise turnover, profit and profit ratio shows decline from 2014-15 to 2019-20 as demonstrated through table no 5 and 6 of the Written Statement. The profit forgone calculation is shown through table ....