K D Lite Developers guilty of Profiteering in ‘Ruparel Orion’ project

Sh. Hasmukh Daftary Vs K D Lite Developers Pvt. Ltd. (NAA) The brief facts of the present case are that Applicant No. 1 had filed an Application before the Standing Committee stating that the Respondent had not passed on the benefit of ITC to him by way of commensurate reduction in the price of Flat No. C-1004 purchased from the Respondent in the Respondent’s project ‘Ruparel Orion’, situated at Chembur, Mumbai on the introduction of GST w.e.f. 01.07.2017, in terms of Section 171 of the Central Goods and Services Tax Act, 2017. The Respondent has contended that as per DGAP...