Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
The respondent, engaged in selling medicines with GSTIN 24AFKPG7000FIZZ, failed to pass on the benefit of GST rate reduction from 28% to 18% on the product "Eclat Serum 30gm" (HSN 33049910) to the recipients, effective from 15.11.2017 as per Notification No. 41/2017-Central Tax (Rate) dated 14.11.2017. This contravened Section 171(1) of the CGST Act, 2017. The profiteered amount is determined as Rs. 2,06,100/- u/r 133(1) of the CGST Rules 2017. The respondent is required to pass on the profiteered amount of Rs. 2,06,100/- along with 18% interest from the date of collection till payment, as per Rule 133(3)(b). Although the respondent committed an offence u/s 171(3A) by denying the rate reduction benefit, penalty cannot be imposed retrospectively as Section 171(3A) was inserted effective 01.01.2020.
The respondent, engaged in selling medicines with GSTIN 24AFKPG7000FIZZ, failed to pass on the benefit of GST rate reduction from 28% to 18% on the product "Eclat Serum 30gm" (HSN 33049910) to the recipients, effective from 15.11.2017 as per Notification No. 41/2017-Central Tax (Rate) dated 14.11.2017. This contravened Section 171(1) of the CGST Act, 2017. The profiteered amount is determined as Rs. 2,06,100/- u/r 133(1) of the CGST Rules 2017. The respondent is required to pass on the profiteered amount of Rs. 2,06,100/- along with 18% interest from the date of collection till payment, as per Rule 133(3)(b). Although the respondent committed an offence u/s 171(3A) by denying the rate reduction benefit, penalty cannot be imposed retrospectively as Section 171(3A) was inserted effective 01.01.2020.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
