Case Law Details
Vijay Pal Sing Vs Nandi Infratech Pvt. Ltd. (NAA)
The Authority determines an amount or Rs. 7,28,05,691/- (including 12% GST) under section 133(1) as the profiteered amount by the Respondent from his 768 home buyers/shop buyers/customers which shall be refunded by him along with interest @18% thereon, from the date when the above amount was profiteered by him till the date of such payment. per the provisions of Rule 133 (3) (b) of the CGST Rules 2017. This amount profiteered is Rs. 84,757/- (including GST) in respect of Applicant No. 1.
This Authority under Rule 133 (3) (a) of the CGST Rules, 2017 orders than the Respondent shall reduce the prices to be realized from the buyers of the flats shop buyers/customers commensurate with the benefit of ITC received by him as has been detailed above.
The Respondent is also liable to pay interest as applicable on the entire amount profiteered. i.e. Rs. 7,28,05,691/- for the project ‘AMAATRA HOMES’. Hence the Respondent is directed to also pass on interest @18% to the customers/flat buyers/recipients on the entire amount profiteered, starting from the date from which the above amount was profiteered till the date of passing on/ payment, as per provisions of Rule 133 (3) (b) or the CGST Rules, 2017.
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