No Additional ITC Benefits for “Ireo Waterfront” Post-GST; Anti-Profiteering Proceedings Dropped

Director General of Anti-Profiteering Vs Ireo Waterfront Pvt. Ltd (Competition Commission of India) In a recent ruling, the Competition Commission of India (CCI) has concluded its investigation into Ireo Waterfront Pvt. Ltd., determining that the company did not pass on additional benefits of input tax credit (ITC) to is customers post-GST implementation. This decision, encapsulated in a report dated July 29, 2024, follows a lengthy inquiry initiated under Rule 129 of the Central Goods and Service Tax (CGST) Rules, 2017. Background of the Case The inquiry into Ireo Waterfront commenced with a ...