https://www.taxtmi.com/caselaws?id=426031 NAPA ruled against respondent construction company for not passing Input Tax Credit benefits to flat buyers under Section 171 of CGST Act, 2017. Analysis revealed respondent gained additional ITC benefit of 4.26% of turnover (Rs. 3,45,28,279) post-GST implementation which should have been passed to customers. NAPA ordered respondent to refund profiteered amount with 18% interest from profiteering date until payment. However, penalty under Section 171(3A) was not imposed as provision was inserted retrospectively from 01.01.2020, while violation occurred during 2017-2019 period. en-us Fri, 22 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426031 NAPA ruled against respondent construction company for not passing Input Tax Credit benefits to flat buyers under Section 171 of CGST Act, 2017. Analysis revealed respondent gained additional ITC benefit of 4.26% of turnover (Rs. 3,45,28,279) post-GST implementation which should have been passed to customers. NAPA ordered respondent to refund profiteered amount with 18% interest from profiteering date until payment. However, penalty under Section 171(3A) was not imposed as provision was inserted retrospectively from 01.01.2020, while violation occurred during 2017-2019 period. Case-Laws GST Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426031