In relief to buyers, realtor told to refund 'excess' GST

In what will signal a relief to home buyers across real estate projects, the National Anti-Profiteering Authority (NAPA) has ordered Puri Constructions to refund “excess” GST collected from the buyers, and dismissed the builder’s plea that the benefit could only be calculated on completion of the project. Several builders have not been passing on the benefit on tax credit on inputs such as cement,…