GST Update

 Desk of CA. Praveen Sharma – 979 Series (CAPS) 

GSTAT-DELHI (PB) IN THE CASE OF DG Anti Profiteering, Director General of Antiprofiteering, DGAP

V/s

Samridhi Realty Pvt. Ltd

GSTAT Delhi (PB) – Anti Profiteering Case

A complaint was filed by homebuyers alleging that the builder did not pass on the benefit of input tax credit by reducing the price of flats after GST implementation.

The matter was investigated and financial data of the project was examined. It was observed that the builder received additional input tax credit benefit after GST. However, during detailed analysis, it was found that the builder had already passed on more benefit than required to the homebuyers.

Further, the remaining differential amounts along with interest were also agreed to be paid by the builder and accepted by the complainants.

All concerned buyers confirmed receipt of the benefit. No objections were raised by other buyers.

LINK: CA. Praveen Sharma on Linkedin

Regards
CAPS