‘Haamid Real Estate’ not passed ITC benefit to 250 Flat Buyers: NAA

Sh. Gajender Singh Vs Haamid Real Estate Pvt. Ltd. (NAA) It has been revealed from the DGAP’s Report that the ITC as a percentage of the turnover that was available to the Respondent during the pre-GST period (April 2016 to June 2017) was 3.31% and during the post-GST period (July 2017 to April-2020), it was 5.42% for the Project ‘ The Peaceful Homes’. This confirms that post-GST, the Respondent has benefited from additional ITC to the tune of 2.11% (5.42% – 3.31%) of his turnover, and the same was required to be passed on to the customers/flat buyers/recipients. The DG...