NAA : Holds 'Affordable Housing' developer guilty of profiteering for not passing 'ITC' benefit

Sep 19,2018

National Anti-Profiteering Authority (NAA) finds a case of profiteering u/s 171 of CGST Act, 2017 by a builder observing that benefit of Input Tax Credit (ITC) has not been passed on to applicants in respect of construction of flats under ‘Affordable Housing Scheme’ (AHS); Observes though rationalization of tax has not resulted in reduction in tax rate, however, benefit of ITC had been extended to all goods and services utilized by any builder which was not avai...

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