NAA: Holds luggage trolley supplier guilty of profiteering, penalty cannot be imposed retrospectivelhy

NAA holds luggage trolley supplier guilty of profiteering in violation of the provisions of Section 171(1) of the CGST Act, 2017; However, withdraws SCN for imposition of penalty u/s 122(1)(i) by observing that, it doesn’t provide penalty for not passing on the benefits of tax reduction, hence penalty cannot be imposed; Notes that DGAP had conducted an investigation and found that Respondent hasn’t passed the benefit of reduction in tax rate of GST w.e.f. from 28% to 18% ...