https://www.taxtmi.com/caselaws?id=426124 NAPA found respondent guilty of profiteering Rs. 3,48,979 by not passing ITC benefits to flat buyers, violating Section 171(1) of CGST Act during 2017-2019. Authority ordered respondent to reduce prices commensurate with ITC benefits and return profiteered amount with 18% interest within three months. Though respondent committed offense warranting penalty under Section 171(3A), penalty could not be imposed as provision was inserted effective 01.01.2020, after violation period, and retrospective application was impermissible. en-us Tue, 26 Jul 2022 00:00:00 +0530 Sat, 05 Apr 2025 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426124 NAPA found respondent guilty of profiteering Rs. 3,48,979 by not passing ITC benefits to flat buyers, violating Section 171(1) of CGST Act during 2017-2019. Authority ordered respondent to reduce prices commensurate with ITC benefits and return profiteered amount with 18% interest within three months. Though respondent committed offense warranting penalty under Section 171(3A), penalty could not be imposed as provision was inserted effective 01.01.2020, after violation period, and retrospective application was impermissible. Case-Laws GST Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426124