NAA: Signature Builder guilty of denying additional ITC to flat buyers, however, withdraws penalty notice

NAA holds Respondent-Builder guilty of profiteering and not passing on benefit of additional ITC to home buyers and violating provisions of Section 171(1) of the CGST Act, 2017, however, withdraws SCN issued for imposition of penalty u/s 177(3A); Notes that DGAP conducted an investigation and found that Respondent had not passed on the benefit of additional ITC to home buyers to the tune of Rs. 2.59 Crores (approx.) for the period July 1, 2017 to December 31, 2018, who had pu...