Anti-Profiteering Proceedings Closed Because Full ITC Benefit Passed to Buyers: GSTAT

DGAP Vs AXIS Infratech LLP (GSTAT) The proceedings arose from an investigation report dated 28.11.2024 submitted by the Director General of Anti-Profiteering (DGAP) under Section 171 of the Central Goods and Services Tax Act, 2017 read with Rule 129 of the CGST Rules, 2017. The investigation was initiated pursuant to a reference by the Standing Committee on Anti-Profiteering based on an application alleging that the Respondent, a real estate developer of the project “24K” at Vadodara, Gujarat, had failed to pass on the benefit of Input Tax Credit (ITC) to buyers through commensurate reduct...