Word by Word Analysis

وَلَوْلَا فَضْلُ ٱللَّهِ عَلَيْكُمْ وَرَحْمَتُهُۥ فِى ٱلدُّنْيَا وَٱلْـَٔاخِرَةِ لَمَسَّكُمْ فِى مَآ أَفَضْتُمْ فِيهِ عَذَابٌ عَظِيمٌ 14

And if it had not been for the favor of Allāh upon you and His mercy in this world and the Hereafter, you would have been touched for that [lie] in which you were involved by a great punishment