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2022 (5) TMI 973 - NAPA - GSTProfiteering - purchase of flats - benefit of reduction in the rate of GST not passed on - contravention of section 171 of CGST Act - penalty - HELD THAT:- The authority finds that the respondent has profiteered by an amount of Rs. 7,23,50,135/-, Rs. 12,94,35,170/- and Rs. 4,91,23,070/- for the projects 'The Camellias','The ultima' respectively during the period of investigation i.e., 01.07.2017 to 30.11.2020. The above amount that has been profiteered by the respondent from his home buyer, in all the three projects shall be refunded by him, alongwith interest @18% thereon, from the date when the above amount was profiteered by him till the date of such payment, in line with the provisions of Rule 133(3)(b) of CGST Rules 2017. It is also evident from the narration of facts that the respondent has denied benefit of ITC to the buyers of the flats and the shops being constructed by him in his projects in contravention of section 171 (1) of CGST Act, 2017 and has committed an offence under section 171(3A) of the Act. That section 171 (3A) of the CGST Act, has been inserted in the CGST Act, 2017 vide Section 112 of the Finance Act, 2019, and the same became operational w.e.f. 01.01.2020. As the period of investigation was 01.07.2017 to 30.11.2020, therefore, he is liable for imposition of penalty under the above section. Application disposed off.
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