NAA: Accepts DGAP’s investigation report, directs refund of additional ITC benefit to house buyers

NAA upholds claim of profiteering against builder/developer u/s Rule 133 (3) (a) of the CGST Rules directing the Respondents to reduce the price to be realized from the buyers of the flats commensurate with the benefit of ITC received; Observes that, in case of applicant who has not paid any amount post GST, there is no benefit of ITC to be passed on to them while noting that buyers had to pay 5% of the total amount at the time of booking i.e. at the time of submission of the...