SSBC Real Estate guilty of not passing ITC benefit to home buyers: NAA

Nitesh Kumar Singhal Vs SSBC Real Estate Pvt. Ltd. (NAA) NAA held that ITC benefit of Rs. 16,49,897/- was required to be passed on to 39 flat buyers by SSBC Real Estate Pvt. Ltd. In this case appellants alleged profiteering by SSBC Real Estate Pvt. Ltd. in respect of purchase of Flat Nos. 1002 and 1003 in the Respondent’s project ‘The Elegance’ situated at Partap Nagar, Jaipur. Both the Applicants alleged that the Respondent had not passed on the full benefit of ITC to them by way of commensurate reduction in prices and charged GST ® 12% on the amount due to them against p...