NAA finds TTK Prestige guilty of profiteering for not passing on the GST cut benefits [Read Order]

The National Anti-profiteering Authority (NAA) has found TTK Prestige guilty of profiteering for not passing the benefit of GST reduction to its customers.

The Respondent, TTK Prestige  had not passed on the benefit of rate reduction to the Applicant as well as other Customers as per the provisions of Section 171 (1) of the CGST Act, 2017.

The DGAP had also submitted that the Respondent had denied the benefit of rate reduction to the customers amounting to Rs. 13,973 pertaining to the period w.e.f. November 15, 2017 to October 31, 2018 and had thus indulged in profiteering and violation of the provisions of Section 171 (1) of the Act.

The Adjudication Authority headed by Chairman B.N.Sharma held that Respondent had not passed on the benefit of rate reduction to the Applicant as well as other Customers for the period from November 15, 2017 to October 31, 2018 and hence, the Respondent has violated the provisions of Section 171 (1) of the CGST Act, 2017.

The NAA further said that the penalty prescribed under Section 171 (3A) cannot be imposed on the Respondent authority as retrospectively.

“Accordingly, the notice dated 08.09.2019 issued to the Respondent for imposition of penalty under Section 177(3A) is hereby withdrawn and the present penalty proceedings launched against him are accordingly dropped,” the NAA said.