GSTAT New Delhi
For revenue
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Search and filter tax rulings from the Supreme Court, the High Courts, the GST Appellate Tribunal and the advance-ruling authorities.
Case-law directory
Search and filter tax rulings from the Supreme Court, the High Courts, the GST Appellate Tribunal and the advance-ruling authorities.
2 rulings found
GSTAT New Delhi
Additional ITC benefit under GST was required to be passed on by commensurate price reduction; as LIG/MIG flat prices were statutorily capped to direct costs, profiteering was to be confined to HIGflats, excluding post-OC/unsold units, without cross-buyer set-off GST: In anti-profiteering proceedings, amounts not passed on as commensurate price reduction under Section 171 were liable to be refunded with compensatory interest under Rule 133(3)(b); accordingly, respondent was directed to pay interest at 18% p.a. from respective dates of collection till actual refund, there being no special reason to deviate. GST: As part of anti-profiteering period extended beyond 1-1-2020, penalty under applicable provision was attracted; accordingly, penalty equal to 10% of profiteered amount was leviable, but stood waived if entire profiteered amount was passed on within 30 days from date of order, as prescribed by statutory proviso
GSTAT New Delhi
Mere filing of Occupancy Certificate application does not constitute project completion; completion occurs only on grant of Occupancy Certificate, and ITC availed till such grant must be considered for determining post-GST anti-profiteering liability. GST: Since sales made post-Occupancy Certificate are not taxable supplies and related ITC is inadmissible, anti-profiteering applies only up to date of Occupancy Certificate; accordingly, investigation should cover period upto Occupancy Certificate and revised computation based on CA-certified data was upheld. GST: In real estate projects, determination of anti-profiteering iamount by comparing pre-GST ITC-to-purchase ratio and post-GST ITC-to-purchase ratio up to Occupancy Certificate date and allocating per sq. ft. benefit to eligible buyers, reasonably quantifies additional ITC required to be passed on. GST: Where homebuyers are identifiable from project records, Rule 133(3)(b) requires refund of profiteered amount with 18% interest to each recipient; residuary deposit under Rule 133(3)(c) cannot be invoked merely because no complaint was made or buyers are temporarily unavailable. GST: Penalty under Section 171(3A) of the CGST Act is prospective from 01.01.2020 and, in the absence of express retrospective operation, cannot be imposed for anti- profiteering pertaining to periods prior thereto