The ruling in brief
Where residential project developer failed to pass on additional ITC benefit post-GST, and DGAP recomputation properly excluded reversed unutilised ITC, methodology and revised profiteering amount of Rs. 2.62 lakh plus interest were to be accepted, making developer liable to pass on said amount with 18% interest to eligible homebuyers
Provisions considered
Section 171 of Central Goods and Services Tax Act, 2017/ Rule 126, read with rule 133, of Central Goods and Services Tax Rules, 2017
This summary is for general information and is not legal advice. Read the full decision and the applicable law before relying on it.