NAA: Directs price reduction and further investigation into whole project & subsequent period while holding Builder guilty of profiteering

NAA upholds a case of profiteering against a builder developer for not passing benefit of additional ITC of 0.28% of taxable turnover post GST implementation to the house buyers (recipients) on account of non-reduction of pre-GST base price of flats; Observes that ratio of CENVAT/ITC to the taxable turnover during pre-GST and post-GST period was 2.37% and 2.65% respectively and ratio of additional ITC calculated by DGAP based on information supplied by Respondent has not been...