https://www.taxtmi.com/article/detailed?id=8334 The supplier failed to pass on the benefit of a GST rate reduction on chocolates by increasing base prices while maintaining pre-reduction MRPs, resulting in retained tax benefit and additional tax on higher bases. DGAP compared pre- and post-rate-change base prices, presumed sales where outward invoices were not produced, calculated unit and aggregate profiteering, and found the supplier liable to refund or deposit the profiteered amount with interest into the Consumer Welfare Fund. NAA affirmed the obligation to pass on tax-rate reductions irrespective of distributor arrangements and initiated recovery and penalty procedures. en-us Mon, 21 Jan 2019 09:48:15 +0530 Mon, 21 Jan 2019 09:48:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8334 The supplier failed to pass on the benefit of a GST rate reduction on chocolates by increasing base prices while maintaining pre-reduction MRPs, resulting in retained tax benefit and additional tax on higher bases. DGAP compared pre- and post-rate-change base prices, presumed sales where outward invoices were not produced, calculated unit and aggregate profiteering, and found the supplier liable to refund or deposit the profiteered amount with interest into the Consumer Welfare Fund. NAA affirmed the obligation to pass on tax-rate reductions irrespective of distributor arrangements and initiated recovery and penalty procedures. Articles Goods and Services Tax - GST Mon, 21 Jan 2019 09:48:15 +0530 https://www.taxtmi.com/article/detailed?id=8334