NAA : Upholds profiteering claim on 'villa' sale, directs payment of net ITC benefit

National Anti-Profiteering Authority (NAA) upholds a case of profiteering in respect of villa booked in Respondent’s project ‘City Park’, holds that benefit of additional ITC was not passed on to flat buyers; Considering DGAP’s report, observes that ratio of ITC to taxable turnover during pre GST period and post GST period was 0.15% and 9.83% respectively, hence, Respondent had benefitted to the tune of 9.68% of taxable turnover; Determines the profiteering ...