Swati Realty guilty of not passing ITC benefit to Home Buyers

Nilang Shastri Vs Swati Realty (NAA) Applicant alleged profiteering by Respondent Swati Realty in respect of purchase of a Flat in the Respondent’s project –Swati Florence, Ahmedabad, Gujarat. The Applicant  has alleged that the Respondent had not passed on the benefit of ITC to him by way of commensurate reduction in price after the implementation of GST w e f 01.07.2017. We find that, Section 171 (1) of the CGST Act, 2017 deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing on the benefit of...