Caroa Properties Not Guilty of Profiteering U/s. 171: NAA

Director General of Anti-Profiteering Vs Caroa Properties LLP (NAA) It is clear from a plain reading of Section 171(1) of the Act, ibid, that it deals with two situations, one relating to the passing on the benefit of reduction in the rate of tax and the second relating to the passing on of the benefit of the ITC to the recipients. On the issue of reduction in the tax rate, it is apparent from the DGAP’s Report that there has been no reduction in the rate of tax in the post GST period, i.e. after 2017. Hence, the only issue to be examined is whether there was any benefit of ITC to the Re...