Hasmukh Daftary Vs K D Lite Developers Pvt. Ltd
Date: August 5, 2022
Court: National Anti-Profiteering Authority
Type: Anti-Profiteering
Judge(s)/Member(s): Amand Shah, Hitesh Shah, P K Singh
Subject Matter
K D Lite Developers Pvt. Ltd guilty of profiteering for not passing the benefit of additional ITC to the buyers
Summary
ITC, as a percentage of the turnover, that was available to the Respondent during the pre-GST period (April 2016 to June 2017) was 0.92%, whereas, during the post-GST period (July 2017 to December 2019), it was 4.26%. This confirms that in the post-GST period, the Respondent has benefited from additional ITC to the tune of 3.34% (4.26%-0.92%) of his turnover, and the same is required to be passed on by him to the recipients of supply