GSTAT New Delhi
For assessee
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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.
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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.
2 rulings found
GSTAT New Delhi
Where homebuyer alleged that developer failed to pass on additional ITC benefit post-GST in construction project and developer evidenced major input cost escalation, DGAP methodology accounting for post-GST input cost escalation was held legally sound and price rise in RMC, sand and bricks had offset additional ITC, thus DGAP report was to be accepted and respondent did not contravene anti- profiteering provisions
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