NAA: Pre-GST 'transitional credit' carried forward post-GST in Form TRAN-1 'not a new credit'

NAA upholds case of profiteering against a builder for his project “The Celest” for contravening Section 171 of CGST Act and profiteering an amount of Rs. 3.5 crore (approx.), rejects applicant's plea that unutilized CENVAT credit balance which has transitioned into GST, such credit should be considered as post-GST credit; Accepts DGAPs argument that, "transitional credit related to the ITC of Excise Duty/Service Tax/VAT which was available to the Respondent during the pr...