Case Law Details
Director General of Anti-Profiteering Vs Friends Land Developers (Project: Anandam Square) (Competition Commission of India)
In respect of the commercial project ‘Anandam Square’ the Commission has observed that in the said project ITC as percentage of turnover that was available to the Respondent during the pre-GST period (April, 2016 to June, 2017) was 4.17% and during the post-GST period (July, 2017 to November, 2019), it was 3.89%. It clearly confirms that the Respondent has not profiteered through additional Input Tax Credit in respect of project “Anandam Square” post-GST. Therefore, he is not required to pass on the benefit of ITC to his buyers.
In view of the above findings, we find that the instant case does not fall under the ambit of Anti-Profiteering provisions of Section 171 of the CGST Act, 2017. Accordingly, the proceedings initiated against the Respondent under Rule 133 (5) of the CGST Rules, 2017 are hereby dropped.
FULL TEXT OF THE ORDER OF COMPETITION COMMISSION OF INDIA
1. The National Anti-Profiteering Authority (NAA) vide Interim Order No. 15/2022 dated 31.08.2022 in this matter had passed the following order:-
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