No Profiteering Found Due to Excess ITC Benefit Passed to Homebuyers: GSTAT

DG Anti Profiteering Vs Samridhi Realty Pvt. Ltd. (GSTAT) The proceedings before the GST Appellate Tribunal (GSTAT) arose from a complaint alleging profiteering under Section 171 of the CGST Act, 2017 in respect of a real estate project. The complainant alleged that the developer failed to pass on the benefit of input tax credit (ITC) by way of commensurate reduction in price after the introduction of GST from 01.07.2017. The matter was initially examined by the Standing Committee and referred to the Director General of Anti-Profiteering (DGAP) for investigation. The DGAP conducted an investi...