Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The High Court held that the petitioner's failure to pass on the benefits of GST rate reduction from 01.01.2019 to the viewers by reducing ticket prices until 11.03.2019 constituted a default. Section 171 of the CGST Act mandates that suppliers pass on the benefit of tax rate reduction to end-users by reducing prices commensurately. Although the petitioner paid GST at the revised rates, the ticket prices remained unchanged until 11.03.2019, resulting in the government receiving higher GST revenue. The High Court found no illegality in the respondent authority's order and dismissed the writ petition.
The High Court held that the petitioner's failure to pass on the benefits of GST rate reduction from 01.01.2019 to the viewers by reducing ticket prices until 11.03.2019 constituted a default. Section 171 of the CGST Act mandates that suppliers pass on the benefit of tax rate reduction to end-users by reducing prices commensurately. Although the petitioner paid GST at the revised rates, the ticket prices remained unchanged until 11.03.2019, resulting in the government receiving higher GST revenue. The High Court found no illegality in the respondent authority's order and dismissed the writ petition.
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