Construction firm ordered to lower flat prices, refund excess with 18% interest due to ITC benefits not passed on.
Case-Laws
GST
Anti-profiteering – Failure to pass on the benefit of Input tax credit – Construction service – assessee directed to reduce the price to be realized from the buyers of the flats in commensurate with the benefit of ITC received by him – Amount directed to be returned to the buyers with interest @18%
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