https://www.taxtmi.com/article/detailed?id=8323 Non reduction of MRP following a GST rate cut amounted to profiteering under Section 171 where a distributor increased base prices so that customers did not receive the tax reduction benefit. Documentary and invoice evidence showed deliberate increases in basic prices; the authority quantified the profiteered amount and held that issuance of incorrect invoices also breached invoice provisions, attracting penal consequences. The respondent was directed to reduce prices commensurately, deposit the profiteered amount with interest into consumer welfare funds where buyers were not identifiable, and face further investigation and show cause proceedings for penalties. en-us Sat, 12 Jan 2019 07:05:46 +0530 Sat, 12 Jan 2019 07:05:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8323 Non reduction of MRP following a GST rate cut amounted to profiteering under Section 171 where a distributor increased base prices so that customers did not receive the tax reduction benefit. Documentary and invoice evidence showed deliberate increases in basic prices; the authority quantified the profiteered amount and held that issuance of incorrect invoices also breached invoice provisions, attracting penal consequences. The respondent was directed to reduce prices commensurately, deposit the profiteered amount with interest into consumer welfare funds where buyers were not identifiable, and face further investigation and show cause proceedings for penalties. Articles Goods and Services Tax - GST Sat, 12 Jan 2019 07:05:46 +0530 https://www.taxtmi.com/article/detailed?id=8323