GSTAT Drops Anti-Profiteering Case Against IREO Projects

DGAP Vs IREO Pvt. Ltd. (GSTAT) The Goods and Services Tax Appellate Tribunal (GSTAT) recently adjudicated the matter of DGAP vs. IREO Pvt. Ltd., arising from an investigation initiated by the National Anti-Profiteering Authority (NAA) under Section 171 of the Central Goods and Services Tax Act, 2017 (“CGST Act”). The Directorate General of Anti-Profiteering (DGAP) had alleged that the real estate developer failed to pass on the benefit of Input Tax Credit (ITC) to buyers post-GST implementation. The case involved three projects—“Skyon,” “Ireo City Central,” and “Managed Service...