Real Estate Firm Accused of Withholding ITC Benefits, Profiteering Rs. 1.78 Crore in GST Case.

Profiteering - purchase of flats - it is alleged that the Respondent had not passed on the commensurate benefit of ITC to him - post-GST, the Respondent has been benefited from additional ITC to the tune of 5.40% (6.67%-1.27%) of his turnover and the same was required to be passed on to the Applicant No. 1 and the other homebuyers/shop buyers/customers. The Authority determines the amount profiteered by the Respondent for the Project Arihant Anchal Phase I, during the period 1.07.2017 to 30.09.2019 as Rs. 1,78,32,984/-. - NAPA .....

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