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Profiteering - service of construction of affordable housing provided by the Respondent - benefit of reduced ITC not passed on by commensurate reduction in the price - the Respondent has denied benefit of ITC to the buyers of his flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and he has thus resorted to profiteering. Hence, he has committed an offence for violation of the provisions of Section 171 (1) during the period from 01.07.2017 to 29.02.2020 and is therefore, liable to imposition of penalty under the provisions of Section 171 (3A) - NAPA
Profiteering - service of construction of affordable housing provided by the Respondent - benefit of reduced ITC not passed on by commensurate reduction in the price - the Respondent has denied benefit of ITC to the buyers of his flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and he has thus resorted to profiteering. Hence, he has committed an offence for violation of the provisions of Section 171 (1) during the period from 01.07.2017 to 29.02.2020 and is therefore, liable to imposition of penalty under the provisions of Section 171 (3A) - NAPA
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TaxTMI 
TaxTMI 
