NAA : Upholds flatbuyer’s profiteering claim against developer; Directs SCN issuance for penalty levy

NAA upholds case of profiteering against respondent-developer for not passing the benefit of ITC to the flat buyers [applicant] in his project ‘Anand Vilas’, thereby violating Sec. 171 of CGST Act, 2017, also directs issuance of show cause notice for penalty imposition; Upon the detailed investigation by Directorate General of Anti-Profiteering (DGAP), it was found that the additional ITC benefit of 1.79% of taxable turnover [i.e difference between pre-GST ( 2.21% ) and p...