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Builder guilty of profiteering for not passing benefit of ITC to flat purchasers

November 30, 2019[2019] 111 taxmann.com 526 (NAA)
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GST : Where applicant who had purchased a flat in respondent's project ' Palm Wood Royal Gulmohar Green' filed application before Anti Profiteering Authority alleging that respondent had failed to pass benefit of input tax credit(ITC) to flat purchasers, it was held that ITC was 2.81% during pre GST period while it was 5.90% in post GST period and respondent had benefitted from additional benefit of ITC to tune of 3.09%, which it was required to pass to customers in terms of section 171 but had failed to do so and ,therefore, respondent was guilty of contravening provisions of section 171 and was directed to reduce price of flats commensurate with benefit of ITC

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