NAA : Upholds profiteering for not passing additional ITC benefit on sale of ready-to-move villa
National Anti-Profiteering Authority (NAA) upholds a case of profiteering in respect of sale of ready-to-move villa, holds that benefit of additional ITC was not passed on to home buyers; Considering DGAP’s report, observes that ratio of ITC to taxable turnover during pre GST period and post GST period was 0.61% and 3.45% respectively, hence, Respondent had benefitted to the tune of 2.84% of taxable turnover; Finds that Respondent did not deny that there was net ITC post GS...