https://www.taxtmi.com/caselaws?id=402091 The Anti-Profiteering Authority found that a property developer violated Section 171(1) of the CGST Act by not passing on Input Tax Credit benefits to homebuyers, resulting in profiteering of Rs. 4,79,04,342. The Authority determined the profiteered amount and held the developer liable for penalty. However, as penalty provisions were introduced retrospectively and did not apply to the violation period, the penalty notice was withdrawn, and penalty proceedings dropped. This case underscores the importance of adhering to anti-profiteering laws and the limitations of retroactive penalty imposition. en-us Thu, 10 Dec 2020 00:00:00 +0530 Fri, 21 Mar 2025 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402091 The Anti-Profiteering Authority found that a property developer violated Section 171(1) of the CGST Act by not passing on Input Tax Credit benefits to homebuyers, resulting in profiteering of Rs. 4,79,04,342. The Authority determined the profiteered amount and held the developer liable for penalty. However, as penalty provisions were introduced retrospectively and did not apply to the violation period, the penalty notice was withdrawn, and penalty proceedings dropped. This case underscores the importance of adhering to anti-profiteering laws and the limitations of retroactive penalty imposition. Case-Laws GST Thu, 10 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402091