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2021 (1) TMI 417 - 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 reduction in IGST rate on the above products and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017. Since, no penalty provisions were in existence when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) can not be imposed on the Respondent retrospectively. Accordingly, the notice dated 06.12.2018 issued to the Respondent for imposition of penalty under Section 122 (1) (i) is hereby withdrawn and the present penalty proceedings launched against him are accordingly dropped. Application disposed off.
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