Builder reversed ITC before receipt of CC/OC to deny ITC benefit to home buyers

Gautam Semwal Vs Revital Reality Pvt. Ltd. (National Anti-Profiteering Authority)

NAA observed that the reversal of the ITC has been effected by the Respondent even before  occupancy certification/ completion certificate was issued by the competent authority. The above voluntary reversal of the credit has been effected by the Respondent only in August 2019, i.e. much after the expiry of the period of investigation of the DGAP i.e. from 01.07.2017 to 31.12.2018. Further, Rule 42 of the CGST Rules, 2017 lays down the

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