GSTAT says no anti profiteering with no additional ITC

The proceedings against Ireo Grace Realtech arose from an allegation that the developer had failed to pass on the benefit of ITC to homebuyers in its "The Corridors" project. 

The investigation found that the ITC-to-purchase ratio had actually declined from 4.66% pre-GST to 4.54% post-GST. 

GSTAT therefore accepted the DGAP's conclusion that no additional ITC benefit had accrued and held that there was no contravention of Section 171.