https://www.taxtmi.com/highlights?id=64253 Profiteering - Project Suncity Avenue-102 - The Authority determines that the Respondent has profiteered an amount of Rs. 2,62,56,652/-. Therefore, given the above facts, the Authority under Rule 133 (3) (a) of the CGST Rules orders that the Respondent shall reduce the price to be realized from the buyers of the flats commensurate with the benefit of ITC received by him. - However, the penalty under Section 171 (3A) cannot be imposed on the Respondent retrospectively. - NAPA en-us Fri, 24 Jun 2022 08:47:52 +0530 Fri, 24 Jun 2022 08:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64253 Profiteering - Project Suncity Avenue-102 - The Authority determines that the Respondent has profiteered an amount of Rs. 2,62,56,652/-. Therefore, given the above facts, the Authority under Rule 133 (3) (a) of the CGST Rules orders that the Respondent shall reduce the price to be realized from the buyers of the flats commensurate with the benefit of ITC received by him. - However, the penalty under Section 171 (3A) cannot be imposed on the Respondent retrospectively. - NAPA Highlights GST Fri, 24 Jun 2022 08:47:52 +0530 https://www.taxtmi.com/highlights?id=64253