Is the Builder bound to pass over the benefit of ITC to its buyers ?

In one case, over a 100 home buyers had filed an application against Pyramid Infratech for not passing on the Input Tax Credit (ITC) of the GST paid on construction services. The National Anti-profiteering Authority (NAA) directed the company to refund or reduce Rs 8.22 crore from the buyers’ last installment along with 18% interest per annum to be calculated from the date of the receipt of the excess amount from each buyer. The builder has since moved Delhi High Court.