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.
