Section 171 of the CGST Act, 2017— Anti- Profiteering – The DGAP submitted its report after a detailed investigation under Rule 129. The DGAP reported that the Respondent had not reduced the basic prices for the buyers of these two projects commensurate to the additional benefits accrued and this benefit of the additional ITC was required to be passed on by the Respondent to the recipients and appeared to had contravened the provisions of Section 171 of the Act. The Authority observed that the respondent has profiteered by an amount of Rs.3,87,94.493/- during the period of investigation i.e. 01.07.2017 to 30.04.2020 and determined the said amount under Rule 133 (1) of the Rules, the benefit of which has not been passed on to the recipients.

Held that:- The Hon’ble Anti-Profiteering Authority directed the Respondent to reduce the prices to be realized from the buyers of the flats commensurate with the benefit of ITC received by him. The amount of Rs.3,87,94,493/- that has been profiteered by the Respondent, shall be refunded along with interest @18%, within a period of three months. The concerned jurisdictional CGST/SGST Commissioner is also directed to ensure compliance of this Order and submit a Report regarding compliance of this order to the Authority and the DGAP within a period of 4 months.