Section 153C jurisdiction requires timely deemed search and assessee-specific satisfaction material; otherwise reassessment must use the proper statut...
Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
GST rate reductions on cinema admission tickets must be passed to consumers through a commensurate price reduction, even where State rules prescribe maximum ticket prices. A maximum-price cap does not prevent lower pricing. Retaining cum-tax ticket prices while increasing the base price, without cogent justification and without challenging the computation, constituted failure to pass on the tax benefit; cost and market factors were immaterial. Where ticket recipients cannot be identified, the profiteered amount, with interest, is payable in equal shares to the Central and State Consumer Welfare Funds. An anti-profiteering penalty cannot be imposed retrospectively where the penalty provision entered into force after the investigated period.
GST rate reductions on cinema admission tickets must be passed to consumers through a commensurate price reduction, even where State rules prescribe maximum ticket prices. A maximum-price cap does not prevent lower pricing. Retaining cum-tax ticket prices while increasing the base price, without cogent justification and without challenging the computation, constituted failure to pass on the tax benefit; cost and market factors were immaterial. Where ticket recipients cannot be identified, the profiteered amount, with interest, is payable in equal shares to the Central and State Consumer Welfare Funds. An anti-profiteering penalty cannot be imposed retrospectively where the penalty provision entered into force after the investigated period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
