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National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers
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CA. Sachin Jindal

National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers

1. Introduction The NATIONAL ANTI-PROFITEERING AUTHORITY ruled that profiteering should be determined at the point in time and not at the completion of the project. As the developer had availed ITC during the project tenure, the developer was liable to pass on the benefits of lower GST to home buyers by way of commensurate price reduction. The NATIONAL ANTI-PROFITEERING AUTHORITY agreed with the findings of the DGAP and directed the developer to refund the net benefit of ITC by way of price reduction and excess GST collected from the flat buyers, along with interest @ 18% per annum. Salarpuria Real

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