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2022 (8) TMI 1436 - NAPA - GSTProfiteering - benefit of the input tax credit has been passed on in terms of section 171 of the Central Goods and Services Tax Act, 2017 to the recipients in respect of construction service supplied or not - HELD THAT:- The Authority has carefully considered the Report of the DGAP and the other material placed on record and finds that the DGAP, in pursuance to this Authority's Interim Order dated 21-10-2019, has not investigated the matter pertaining to the project M "Ireo Rise" which was executed by the Respondent (M/s. Puma Realtors Pvt. Ltd.) in terms of section 171 of the CGST Act, 2017 and the Rules made thereunder so as to determine whether there has been any profiteering by the Respondent therein. The DGAP furnished his Report dated 28-10-2021 to this Authority, stating that the Respondent had provided some documents/information that were not enough to conclude as to whether the Respondent had benefitted to the additional ITC in post-GST and if yes, then the said benefit of ITC has been passed on by him to the recipients by a commensurate reduction in price as per provision of section 171 of the CGST Act 2017 and Rules made thereunder. Further, the DGAP had observed that a Corporate Insolvency Resolution Process (CIRP) was initiated against the Respondent under Insolvency and Bankruptcy Code 2016 (IBC) vide Order dated 17-10-2018 by the National Company Law Tribunal (NCLT), New Delhi. The said CIRP had been concluded by NCLT vide its Order dated 1-6-2021 whereby the Resolution Plan filed by the M/s. One City Infrastructure Pvt. Ltd was duly approved and subsequently implemented. This Authority finds that, section 171 of the CGST Act, 2017 and the Rules made thereunder cast a three fold responsibility on this Authority viz. to ensure that that there shall be no profiteering in case of reduction of tax rates or availability of ITC to suppliers, to determine profiteered amount and to ensure that the profiteered amount so determined is returned/passed on along with interest to each recipient of such supply. The order dated 23-3-2020 is restored and in continuation of the subsequent orders dated 8-3-2021, 27-4-2021 and 23-9-2021, it is directed that the period from 15-3-2020 till 28-2-2022 shall stand excluded for the purposes of limitation as may be prescribed under any general or special laws in respect of all judicial or quasi-judicial proceedings.
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