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 b...

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