Shri Vinay Sheel Bansal & Shri Chander Sheel Bansal Vs Jaiprakash Associated Limited (Competition Commission of India)
Introduction: The Competition Commission of India (CCI) recently took up a case against Jaiprakash Associated Limited, concerning its residential project, Jaypee Greens Kalypso Court. The main contention revolves around the alleged non-passing of Input Tax Credit (ITC) benefits to consumers, post the introduction of GST.
Background of the Case: Shri Vinay Sheel Bansal & Shri Chander Sheel Bansal initiated proceedings against Jaiprakash Associated Limited. They alleged that the company did not pass on the benefit of ITC during their purchase of a flat post the GST’s introduction in 2017.
Investigations by the DGAP:
- The Director-General of Anti-Profiteering (DGAP) was directed to look into the matter. Post investigations, certain findings were noted:
- The respondent did not offer ITC benefits to consumers upon GST’s introduction.
- An official notice was issued to the respondent in 2022, questioning their compliance with GST rules.
- The investigation spanned from July 2017 to September 2022.
Response by Jaiprakash Associated Limited:
- The company has diversified business interests ranging from cement manufacturing to real estate.
- Post GST, the company registered under state-wise GST, making their UP registration a common one for varied projects, including the Jaypee Greens Kalypso Court.
- They detailed the timeline of the project’s development, particularly highlighting the completion dates of various towers.
DGAP’s Findings:
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