NAA: Rejects DGAP’s profiteering calculation using blocked ITC, directs further investigation

NAA rejects DGAP report alleging profiteering in respect of the construction service supplied by Respondent in its commercial project ‘U FARIA’, directs further investigation; Notes from DGAP report, an allegation that Respondent had availed additional ITC benefit of 1.74%  of the turnover ( post GST ITC as a percentage of turnover of 2.58% - pre GST CENVAT credit of 0.84%) and accordingly had profiteered an amount of Rs. 24,78,383; Notes claim of Respondent that Rs....