Gujarat Builder found guilty of not passing ITC Benefit

Sh. Vasantbhai Bhikabhai Patel Vs M/s Shree Infra (National Anti-Profiteering Authority) We have carefully considered the Report of the DGAP, the submissions of the Respondent and all the documents placed on record. From the perusal of the DGAP’s Report it is revealed that the ratio of ITC to the taxable turnover during the pre-GST period was to the extent of 2.37% as compared to post-GST period of 2.65% thus, there was net benefit of 0.28% of ITC to the Respondent. Based on this net benefit and the amounts collected from the home buyers during the post GST period, an amount of Rs. 2,13,...