Denial of Benefit of ITC to Buyers would Amount to Profiteering: NAA

In this case, the National Anti-Profiteering Authority (NAA) held that Respondent had not passed on the benefit of ITC to him by way of commensurate reduction in price under section 171 of Central Goods and Service Tax Act, 2017 and has committed an offence under Section 171(3A) of the Act and liable for penalty. Facts […]

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