9911796707
TMI Blog2020 (9) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... been revealed that the Respondent has not passed on the benefit of input tax credit to his buyers w.e.f. 01.07.2017 to 31.10.2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017. Penalty - HELD THAT:- Since no penalty provisions were in existence between the period w.e.f. 01.07.2017 to 31.10.2018 when the Respondent had violated the provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax (CGST) Rules, 2017, had submitted that he had conducted an investigation on the complaint of the Applicant No. 1 and found that the Respondent had not passed on the benefit of Input Tax Credit in respect of the flat purchased by him in the River View Heights project of the Respondent on introduction of the GST w.e.f. 01.07.2017, as per the provisions of Section 171 (1) of the CGST Act, 2017. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ING AUTHORITY had determined the profiteered amount as ₹ 2,13,468/- as per the provisions of Section 171 (2) of the above Act read with Rule 133 (1) of the CGST Rules, 2017 pertaining to the period from July, 2017 to October, 2018 and also held the Respondent in violation of the provisions of Section 171 (1). 3. It was also held that the Respondent had denied the benefit of ITC by not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be imposed on him as the Central Government vide Notification No. 01/2020- Central Tax dated 01.01.2020 has appointed the 1 st day January, 2020 as the date on which the provisions of Section 92 to 112 of the Finance (No. 2) Act, 2019 shall come into force. He has further submitted that provisions of Section 171 (3A) inserted vide Section 112 of the Finance Act, 2019 are effective prospectively f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of the CGST Act, 2017 and penalty was proposed to be imposed in the case of violation 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 31.10.2018 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. Accord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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