Case Law Details
Sh. Madhumal Panjumal Keswani Vs Panchshil Infrastructure Holding Pvt. Ltd. (NAA)
The present Report dated 25.10.2021 has been received from Applicant No. 2 i.e the Director General of Anti-Profiteering (DGAP) after a detailed Investigation under Rule 120(6) of the Central Goods & Service Tax (CGST) Rules, 2017 The brief facts of the present case are that the Standing Committee on Anti-profiteering, received an Application under Rule 128 of the CGST Rules. 2017 filed by Applicant No. 1 alleging profiteering in respect of construction service supplied by the Respondent. Applicant No. 1 alleged that the Respondent has not passed on the benefit of ITC to him by way of commensurate reduction in the price on purchase of Apartment No. 503, Tower-E, from the Respondent in the Project Panchshil Towers situated at Kharadi, Pune on the introduction of GST w.e.f. 01.07.2017, in terms of Section 171 of the CGST Act, 2017.
Given the above discussions. the Authority finds that the Respondent has profiteered by Rs 1,98,69,483/- for the Protect “Panchshil Towers” during the period of investigation i.e. 01.07.2017 to 30.11.2020. The above amount that has been profiteered by the Respondent from his home buyers/customers/recipients in the above said Project shall be refunded by him, along with interest @18% thereon, from the date when the above amount was profiteered by till the date of passing on/payment, as per the provisions of Rule 133(3) (b) of the CGST Rules. 2017.
The Respondent is also liable to pay Interest as applicable on the entire amount profiteered. i.e. Rs 1,96,69,483/- for the Project ‘Panchshil Towers’ Hence the Respondent is directed to also pass on interest @18% to the customers/flat buyers/recipients on the entire amount profiteered, starting from the date from which the above amount was profiteered till the dale of passing on, payment, as per the provisions of Rule 133 (3) (b) of the CGST Rules 2017
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