GST: Penalty can’t be levied from S3 Buildwell LL for denying benefit of ITC to Flat purchaser, says NAA [Read Order]

The National Anti-Profiteering Authority (NAA) found M/s S3 Buildwell LL Private Limited guilty of profiteering but did not impose the penalty for denying the benefit of Input Tax Credit (ITC) to Flat Buyers as no penalty provisions existed when the ITC was denied. Approximately 71 Applicants alleged profiteering against the respondent, M/s S3 Buildwell LL […]

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