GSTAT Remands Profiteering Case Due to Non-Verification of ITC Reversal

DG Anti Profiteering Vs SJR Prime Corporation Pvt. Ltd (GSTAT) The proceedings arose from an application filed under Rule 128 of the Central Goods and Services Tax Rules, 2017 by Shri Sarana Basappa before the Karnataka State Screening Committee on Anti-Profiteering. The allegation concerned profiteering by M/s SJR Prime Corporation Pvt. Ltd. in relation to construction services for Flat No. 508 in the sub-project “Goldcoast” of “Blue Water – Phase II.” It was alleged that the Respondent failed to pass on the benefit of additional Input Tax Credit (ITC) accrued after the implementati...