NAA: Can’t impose penalty for profiteering ‘retrospectively’, drops proceedings against Vaseline trader

NAA withdraws penalty notice and drops penalty proceedings launched against the Repondent (Trader of Vaseline VTM 400 ml); Notes that by an earlier order, NAA found the Respondent to have issued incorrect invoices, in which the base price was deliberately enhanced exactly by the amount of reduced tax, and thus it had denied the benefit of tax rate reduction, thereby committing an offence u/s 122(1)(i) of CGST Act; However, derives that sub-section (3A) of section 17...