Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The AT held that the Respondent engaged in profiteering under Section 171, CGST Act, by failing to pass on GST rate reductions effective 01.10.2019; the statutory rebuttable presumption that reduced tax rates require commensurate price reductions was not successfully rebutted. The Respondent's claim of COVID-related additional costs was found unsubstantiated and after-the-fact. The AT directed recovery of Rs. 31,28,631 with interest at 18% p.a. from 01.10.2019 until realization, and ordered deposit of the realized amount into the Consumer Welfare Fund to be apportioned equally between the Centre and States.
The AT held that the Respondent engaged in profiteering under Section 171, CGST Act, by failing to pass on GST rate reductions effective 01.10.2019; the statutory rebuttable presumption that reduced tax rates require commensurate price reductions was not successfully rebutted. The Respondent's claim of COVID-related additional costs was found unsubstantiated and after-the-fact. The AT directed recovery of Rs. 31,28,631 with interest at 18% p.a. from 01.10.2019 until realization, and ordered deposit of the realized amount into the Consumer Welfare Fund to be apportioned equally between the Centre and States.
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