9911796707
TMI Blog2020 (12) TMI 1205X X X X Extracts X X X X X X X X Extracts X X X X ..... s - violation of the provisions of Section 171 (1) of the Act - HELD THAT:- It has been revealed that the Respondent has not passed on the benefit of additional Input tax Credit (ITC) to the above Applicants as well as other homebuyers who have purchased them in his Project Green Court for the period from 01.07.2017 to 31.08.2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017 - It is also revealed from the perusal of the CGST Act and the Rules framed under it that the Central Government vide Notification No. 01/2020-Central Tax dated 01.01.2020 has implemented the provisions of the Finance (No. 2) Act, 2019 from 01.01.2020 vide which sub-section 171 (3A) was added in Section 171 of the CGST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that the Respondent had denied the benefit of ITC to the above buyers amounting to ₹ 5,30,34,074/-, pertaining to the period w.e.f. 01.07.2017 to 31.08.2018 and thus had indulged in profiteering and violation of the provisions of Section 171 (1) of the above Act. 2. This Authority after careful consideration of the Report dated 28.02.2019 had issued notice dated 05.03.2019 to the Respondent to show cause why the Report furnished by the DGAP should not be accepted and his liability for violation of the provisions of Section 171 (1) should not be fixed. After hearing both the parties at length this Authority vide its Order No. 57/2019 dated 19.11.2019 = 2019 (11) TMI 1082 - NATIONAL ANTI-PROFITEERING AUTHORITY had de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther homebuyers who have purchased them in his Project Green Court for the period from 01.07.2017 to 31.08.2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017. 7. It is also revealed from the perusal of the CGST Act and the Rules framed under it that the Central Government vide Notification No. 01/2020-Central Tax dated 01.01.2020 has implemented the provisions of the Finance (No. 2) Act, 2019 from 01.01.2020 vide which sub-section 171 (3A) was added in Section 171 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. 8. Since, no penalty provisions were in existence between the period w.e.f. 01.07.2017 to 31.12. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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