Sponsored
    Follow Us:

Case Law Details

Case Name : Sh. Ashok Kumar Singh Vs Lifeways Infrastate Pvt. Ltd. (NAA)
Appeal Number : Case No. 27/2022
Date of Judgement/Order : 24/06/2022
Related Assessment Year :
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

Sh. Ashok Kumar Singh Vs Lifeways Infrastate Pvt. Ltd. (NAA)

The only issue to be examined is as to whether there was any net benefit of ITC with the introduction of GST. The Authority finds that, the ITC, as a percentage of the turnover, that was available to the Respondent during the pre-GST period (April-2016 to June-2017) was 0.31%, whereas, during the post-GST period (July-2017 to September, 2019), it was 0.48%. This confirms that in the post-GST period, the Respondent has been benefited from additional ITC to the tune of 0.17% (0.48%40.31%) of his turnover and the same is required to be passed on by him to the recipients of supply, including the Applicant No. 1. The Authority finds that the computation of the amount of ITC benefit to be passed on by the Respondent to the eligible recipients works out to Rs.1,54,269/-. The DGAP has calculated the amount of ITC benefit to be passed on to all the eligible recipients as Rs.1,54,269/- on the basis of the information supplied by the Respondent. The Respondent has not disputed the methodology adopted by the DGAP or the amount of profiteering worked out by the DGAP. The Respondent vide E-mail dated 13.07.2020 has given a statement of anti-profiteering amount paid to customers and interest separately and enclosed the list of such recipient sent vide E-mail dated 29.05.2020.

In view of the above discussions, the Authority finds and determines that the Respondent has profiteered by an amount of Rs. 1,54,269/- for the project ‘Celebrity Garden Block K’ during the period of investigation i.e. 01.07.2017 to 30.09.2019. The above amount that has been profiteered by the Respondent from his Home buyers in the above mentioned project. The claim of their refund along with the interest @18% thereon, from the date when the above amount was profiteered by him till the date of such payment, in line with the provisions of Rule 133 (3) (b) of the GCST Rules 2017, need to be verified by the concerned CGST/SGST Commissionerate.

This Authority under Rule 133 (3) (a) of the CGST Rules, 2017 orders that the Respondent shall reduce the prices to be realized from the buyers of the flats commensurate with the benefit of ITC received by him as has been detailed above.

FULL TEXT OF ORDER OF NATIONAL ANTI-PROFITEERING AUTHORITY

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031