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Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Section 171 was applied to hold that any GST rate reduction must be passed on through a commensurate reduction in the consumer price, and the Tribunal found that cinema ticket prices were not reduced after the tax cut while the base price was increased. The State regulatory ceiling was treated as only a maximum price cap, not a bar on lowering prices, and the claim of cost escalation failed for want of proof. The maintenance charge collected with the ticket was held to form part of the ticket value for GST and anti-profiteering computation. The profiteered amount was directed to be deposited in the Consumer Welfare Funds with interest, but penalty was declined because the penal provision had not yet come into force.
Section 171 was applied to hold that any GST rate reduction must be passed on through a commensurate reduction in the consumer price, and the Tribunal found that cinema ticket prices were not reduced after the tax cut while the base price was increased. The State regulatory ceiling was treated as only a maximum price cap, not a bar on lowering prices, and the claim of cost escalation failed for want of proof. The maintenance charge collected with the ticket was held to form part of the ticket value for GST and anti-profiteering computation. The profiteered amount was directed to be deposited in the Consumer Welfare Funds with interest, but penalty was declined because the penal provision had not yet come into force.
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