NAA found builder guilty of denying benefit of ITC to buyers of flats

Shri Hardev Singh Vs M/s Ocean Seven Buildtech Pvt. Ltd. (National Anti-Profiteering Authority) As per the payment schedule, buyers had to pay 5% of the total amount at the time of booking, i.e. at the time of submission of the application for allotment and the first draw for allotment was held on 31.03.2017 during the pre-GST period. Therefore, the Respondent had received the booking amount on or before 31.03.2017 which constitutes the pre-GST Turnover of the Respondent. It is further observed from the documents placed on record that the calculation of profiteering prepared by the DGAP is bas...