Section 171 Penalty Inapplicable to Pre-2020 ITC Profiteering: GSTAT

Advertisement DG Anti Profiteering Vs Townpark Buildcon Pvt. Ltd. (GSTAT) The proceedings arose from an application under Rule 128 of the Central Goods and Services Tax Rules, 2017 alleging that the respondent builder had failed to pass on the benefit of Input Tax Credit (ITC) by way of a commensurate reduction in the price of a flat following the introduction of GST from 1 July 2017, in contravention of Section 171 of the CGST Act, 2017. The Standing Committee on Anti-Profiteering referred the matter to the Director General of Anti-Profiteering (DGAP) for investigation under Rule 129 of th...