Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Customs Broker licence proceedings require accurate procedural facts before delay or natural-justice findings can justify setting aside regulatory act...
Provisional assessment finalisation must precede export duty recovery, while redemption fine fails for goods already exported and unavailable for conf...
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The respondent resorted to profiteering by not passing on the benefit of GST rate reduction on cinema tickets, realizing an additional Rs. 4,65,549 from recipients. As per Rule 133, the respondent is directed to reduce ticket prices commensurate with the tax cut, deposit the profiteered amount of Rs. 4,65,549 plus 18% interest equally in central and state consumer welfare funds within 3 months. The respondent violated Section 171(1) by denying rate cut benefit, but penalty u/s 171(3A) cannot be imposed retrospectively. The jurisdictional GST commissioners are directed to monitor compliance and report to the commission within 4 months.
The respondent resorted to profiteering by not passing on the benefit of GST rate reduction on cinema tickets, realizing an additional Rs. 4,65,549 from recipients. As per Rule 133, the respondent is directed to reduce ticket prices commensurate with the tax cut, deposit the profiteered amount of Rs. 4,65,549 plus 18% interest equally in central and state consumer welfare funds within 3 months. The respondent violated Section 171(1) by denying rate cut benefit, but penalty u/s 171(3A) cannot be imposed retrospectively. The jurisdictional GST commissioners are directed to monitor compliance and report to the commission within 4 months.
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