NAA: 'ITC-benefit' to be passed monthly; Directs Heerandani Realtors to re-calibrate post-GST prices

NAA upholds claim of profiteering u/s 171 of the CGST Act amounting to Rs. 3.79 Crores (approx.) while directing Revenue to investigate the issue of passing on the benefit of additional ITC in relation to 2 more projects executed on admission by builder; Observes that, builder accrued additional ITC benefit of 10.66% (12.60% - 1.94%) of total turnover which was required to pass flat buyers post GST period as basic prices of flats were not reduced; Finds that “ratios of CENV...