NAA: Instructs builder to pass additional ITC-benefit to homebuyers, GST chargeability outside NAA’s mandate

NAA upholds profiteering allegation in respect of purchase of flats in Respondent’s project on being satisfied that it has not passed on the benefit of Input Tax Credit (ITC); Derives from perusing DGAP’s report that Respondent has benefitted from the additional ITC to the tune of 10.25% of the total turnover during the pre as well as post GST period which he was required to pass on to the flat buyers; Further, NAA finds that Respondent has not reduced the ...