9911796707
TMI Blog2023 (8) TMI 299X X X X Extracts X X X X X X X X Extracts X X X X ..... PVT. LTD [ 2022 (7) TMI 1441 - NATIONAL ANTI-PROFITEERING AUTHORITY] , has investigated the matter pertaining to the other projects executed by the Respondent in terms of Section 171 of the CGST Act, 2017 and the Rules made there under so as to determine whether there has been any profiteering by the Respondent and found that no other project has been executed by the Respondent except the project Crescent Bay , profiteering in respect of which has already been determined by the NAA vide its order dated 29.07.2022. The above fact has also been corroborated from the website of the Maharashtra RERA as well as the reply of the Commissioner State Tax Maharashtra as per the report of the DGAP. This Commission finds that the provisions of S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e benefit of ITC to home buyers who had purchased flats from him and M/s Omkar Realtors Developers Pvt. Ltd. was to get his share of ITC from the Respondent and pass it on to the buyers to whom he had sold his share of flats. 4. Further, vide Para 55 of the aforesaid order, the NAA directed the DGAP in terms of Rule 133 (5) of the CGST Rules, 2017, to investigate profiteering in relation to projects other than project Crescent Bay , which were being executed by the Respondent and M/s Omkar Realtors Developers Pvt. Ltd., under the provision of Section 171 of the CGST Act, 2017. The contents of para 55 are reproduced below : - 55. In view of facts discussed hereinabove and the findings thereof, the Authority has a reason to belie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roject other than Crescent Bay , the details of Respondent's projects registered with Maharashtra Real Estate Regulatory Authority (RERA) were checked online and it was observed that the Respondent had taken tower-wise RERA registration of 6 towers under Crescent Bay project. Further, no other projects of the Respondent except 6 Crescent Bay towers were registered with RERA. The details are as follows:- Sl.No. Project Name Promoter Name RERA Registration No. 1 Crescent Bay - T4 L T Parel Project LLP (JV with ORDPL) P51900006593 2 Crescent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 51/2022 dated 29.07.2022. Therefore, Section 171 (1) of the Central Goods and Services Tax Act, 2017 requiring that any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices , is not applicable in the present case. 6. This Commission has carefully considered the Report of the DGAP and the other material placed on record and finds that the DGAP, in pursuance to the Order No. 51/2022 dated 29.07.2022 , has investigated the matter pertaining to the other projects executed by the Respondent in terms of Section 171 of the CGST Act, 2017 and the Rules made there under so as to determine whether there has been any profite ..... X X X X Extracts X X X X X X X X Extracts X X X X
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