Authority Finds Rs. 2.62 Crores Profiteering in Suncity Avenue-102; Orders Price Reduction u/r 133(3)(a) CGST Rules.

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....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....