No Profiteering as Post-GST ITC Ratio Fell Below Pre-GST Level: GSTAT

DGAP Vs Shrivision Towers Pvt. Ltd (Shriram Greenfield) (GSTAT) The present case before the Goods and Services Tax Appellate Tribunal arose from a complaint alleging profiteering under section 171 of the Central Goods and Services Tax Act, 2017. The Karnataka State Screening Committee received a complaint from a homebuyer alleging that the developer had not passed on the benefit of input tax credit (ITC) by way of commensurate reduction in the price of a flat booked in the project “Shriram Greenfield” after the introduction of GST with effect from 01.07.2017. The complaint was examined by ...