Profiteering in real estate GST input tax credit passthrough found; developer to refund Rs 1.00 crore plus interest to buyers.
Case-Laws
GST
Profiteering resulting from failure to pass on increased input tax credit ratio (0.43 percentage points) was quantified at Rs. 1,00,67,677; this finding was accepted and the benefit is to be refunded, apportioned pro rata to 340 home buyers, the respondent having acknowledged the contravention. The respondent is required to refund the profiteered a
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