NAA: Alton Buildtech guilty of profiteering, entire amount of ITC available post GST-period amounts to additional ITC benefit

NAA upholds profiteering allegation to the tune of Rs. 6.24 crores in relation to Respondent’s project ‘Aangan’ for not passing on additional ITC benefit (10.25%-0%) to buyers by way of commensurate reduction in prices of flats; However, does not impose penalty as per section 171 (3A) as the provision came into force on January 01, 2020, directs DGAP to investigate other two parts of Respondent’s ‘Aangan’ project known as Phase-II and Phase-III which are under-con...