No penalty for violation of Section 171 (1) before 01.01.2020: NAA

Ms. Pallavi Gulati and Sh. Abhimanyu Gulati Vs M/s Puri Constructions Pvt. Ltd. (National Anti-Profiteering Authority) Respondent has not passed on the benefit of input tax credit to his buyers w.e.f 01.07.2017 to 30.06.2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017. It is further revealed that vide Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171 (1) which have come into force w.e.f. 01.01.2020, by inserting Section 171 (3A). Since no penalty provisions were in e...