Pearlite Real Properties guilty of profiteering in its project Godrej 24: NAA

Sh. Parvez Khan Vs Pearlite Real Properties 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 3.02% and during the post-GST period (July-2017 to December-2018), it was 6.66% for the project ‘Godrej 24’. This confirms that, post-GST, the Respondent has been benefited from additional ITC to the tune of 3.64% [6.66% (-) 3.02%] of his turnover for the said project and the same was required to be passed on to the customers/flat buyers/...