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2021 (1) TMI 416 - NAPA - GSTProfiteering - purchase of flat - allegation that Respondent had not passed on the benefit of input tax credit by way of commensurate reduction in price - violation of the provisions of Section 171 (1) of GST Act - penalty - HELD THAT:- It has been revealed that the Respondent has not passed on the benefit of ITC to his buyers w.e.f 01.07.2017 to 31.08.2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017. Since no penalty provisions were in existence between the period w.e.f. 01.07.2017 to 31.08.2018 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) cannot be imposed on the Respondent retrospectively. Accordingly, the notice dated 18.12.2020 issued to the Respondent for imposition of penalty under Section 171 (3A) is hereby withdrawn and the present penalty proceedings launched against him are accordingly dropped. Application disposed off.
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