NAA : Dismisses profiteering allegation against supplier of construction service w.r.t. apartment

National Anti-Profiteering Authority (NAA) dismisses case of profiteering against supply of construction service in respect of an apartment finding non- availment of any additional benefit of ITC post GST; Considering DGAP’s Report, observes that ratio of ITC benefit to the taxable turnover was decreased from 7.56% to 7.09% from pre-GST to post GST regime and thus, there was no accrual of additional benefit of ITC; Also, in the pre-GST period, Service tax 6% and VAT 10.5% (...