NAA: Housing project scheme owner violated anti-profiteering provisions, drops penalty proceedings

NAA confirms profiteering allegations against Construction Company under Housing project scheme resulting in violation of Section 171(1) of the CGST Act, 2017; Notes DGAP’s finding that the Applicant and other flat buyers in ‘Anand Vilas’ project of Respondent were denied benefit of ITC for the period pertaining from July, 2017 to June, 2018 pursuant to which SCN with imposition of penalty was issued; Further holds that no provision of penalty for violation of section 1...