Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
Section 171 of the CGST Act requires suppliers to pass any GST-rate reduction to recipients through a commensurate reduction in prices. For cinema admission tickets, increased base prices and general commercial pricing considerations do not displace that obligation. A supplier must provide cogent evidence that the tax benefit reached viewers; failure to challenge the DGAP methodology or substantiate price increases supports a finding of non-passing. Non-reduction of first- and second-class ticket prices after the rate cut constituted contravention, requiring deposit of the profiteered amount with interest in consumer welfare funds; no penalty was imposed.
Section 171 of the CGST Act requires suppliers to pass any GST-rate reduction to recipients through a commensurate reduction in prices. For cinema admission tickets, increased base prices and general commercial pricing considerations do not displace that obligation. A supplier must provide cogent evidence that the tax benefit reached viewers; failure to challenge the DGAP methodology or substantiate price increases supports a finding of non-passing. Non-reduction of first- and second-class ticket prices after the rate cut constituted contravention, requiring deposit of the profiteered amount with interest in consumer welfare funds; no penalty was imposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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