The respondent commenced a real estate project "Swastik Heights" ...

Profiteering allegations dismissed for post-GST real estate project charging 8% GST + ITC.

Case Laws GST

August 23, 2024

The respondent commenced a real estate project "Swastik Heights" in the post-GST regime, with commencement certificate issued on 08.03.2018 and GST registration effective from 27.02.2018. Initially, GST was charged at 8% with input tax credit (ITC). From 01.04.2019, the respondent had the option to charge either 8% GST with ITC or 1% without ITC, but continued charging 8% with ITC. The Commission observed that since the project commenced in the post-GST period, there was no benefit of rate reduction or additional ITC compared to the pre-GST period that the respondent was obligated to pass on to buyers u/s 171(1) of the CGST Act, 2017. Consequently, the allegations of profiteering were found untenable, and proceedings were dropped.

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The respondent commenced a real estate project "Swastik Heights" ...

Profiteering allegations dismissed for post-GST real estate project charging 8% GST + ITC.

Case Laws GST

August 23, 2024

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