GSTAT Principal Bench Holds Developer Liable for Interest on Profiteered Amount Under Section 171 of CGST Act
The GST Appellate Tribunal Principal Bench has affirmed that a developer found guilty of profiteering under Section 171 of the CGST Act must pay interest at 18% on the profiteered amount from the date of collection until refund, as mandated by Rule 133(3)(b) of the CGST Rules, 2017. The Tribunal accepted the DGAP’s findings and report.
