‘Wadhwa Realty’ guilty of not passing ITC benefit to home buyers: NAA

Atul Waichal Vs Wadhwa Realty Pvt. Ltd. (NAA) The Authority finds that, the ITC, as a percentage of the turnover, that was available to the Respondent during the pre-GST period (April-2016 to June-2017) was 2.80%, whereas. during the post-GST period (July-2017 to September, 2019), it was 2.83%. This confirms that in the post-GST period, the Respondent has been benefited from additional ITC to the tune of 0.03% (2.83%-2.80%) of his turnover and the same is required to he passed on by him to the recipients of supply, including the Applicant No. I The Authority finds that the computation of the a...