DGAP Vs Kolte Patil Developers Ltd. (GSTAT)
The matter before the Goods and Services Tax Appellate Tribunal was taken up in physical mode. Representatives appeared for both the Director General of Anti-Profiteering and the respondent. During the hearing, counsel for the respondent submitted that, to resolve the dispute and for peace of mind, the respondent was willing to pay an amount of ₹67,02,147 calculated as the profiteering amount. A period of three months was requested for making the payment, citing the need to distribute the amount to numerous homebuyers. The DGAP’s representative raised no objection to this request.
In view of the undertaking, the Tribunal accepted the DGAP’s report and directed the respondent to pay ₹67,02,147 to eligible homebuyers within three months from the date of the order. Regarding interest, the respondent agreed to pay interest calculated based on the last payment made by the respective homebuyers. The Tribunal directed that interest would be payable as applicable under Rule 133(3) of the CGST Rules, 2017. The respondent was also directed to submit a compliance report to the concerned jurisdictional Commissioner after completion of the stipulated period. The matter was disposed of accordingly.
FULL TEXT OF THE JUDGMENT/ORDER OF GSTAT
1. The matter was taken up today in Physical mode.
2. Suneel Kumar, Additional Assistant Director, assisted by Sh. Awanindra Kumar, Inspector, appeared on behalf of the DGAP. Sh. Ravi Kumar, Court Officer and Sh. Preet Hooda, Court Officer are present.
3. Pritam Mahure, CA and Sh. Sahil Thurani, CA, appeared on behalf of the Respondent.
4. The learned Counsel for the Respondent submitted that to resolve the matter for the peace of mind to the end of Respondent, the Respondent is ready to pay the amount to the tune of Rs. 67,02,147/- as calculated the amount of profiteering against him. He further submitted that a time of three months may be granted for making payment since payment is to be made to voluminous homebuyers.
5. The Representative of the DGAP has no objection.
6. In view of the above undertaking the report of the DGAP is accepted. The Respondent is directed to pay the amount to the tune of Rs. 67,02,147/- within three months from today to eligible homebuyers.
7. So far as the payment of interest is concerned, Learned Counsel for the Respondent submitted that they are ready to pay the interest as per the last payment made by respective homebuyers and the interest payable should be made applicable thereof accordingly.
8. It is directed that the Respondent would be liable to pay the interest to the homebuyers as applicable under Rule 133 (3) of the CGST Rules 2017.
9. The Respondent will submit the compliance report after the stipulated time to the concerned jurisdictional Commissioner.
10. The matter is, disposed of, accordingly.
