Footwear Company Violates Section 171 of CGST Act by Not Passing GST Rate Cut Benefits to Consumers, Faces Penalty.

Footwear Company Violates Section 171 of CGST Act by Not Passing GST Rate Cut Benefits to Consumers, Faces Penalty. https://www.taxtmi.com/highlights?id=47511 Profiteering - footwear - benefit of rate reduction of GST from 18% to 5% - It is evident that the Respondent had increased the base price of the product when the rate of tax was reduced - non reduction of price is contravened the provisions of Section 171 of the CGST Act, 2017 - directed to reduce the price of the product and also pay profiteered amount and SCN for penalty en-us Thu, 27 Jun 2019 07:40:42 +0530 Thu, 27 Jun 2019 07:40:42 +0530 TaxTMI RSS Generator Footwear Company Violates Section 171 of CGST Act by Not Passing GST Rate Cut Benefits to Consumers, Faces Penalty. https://www.taxtmi.com/highlights?id=47511 Profiteering - footwear - benefit of rate reduction of GST from 18% to 5% - It is evident that the Respondent had increased the base price of the product when the rate of tax was reduced - non reduction of price is contravened the provisions of Section 171 of the CGST Act, 2017 - directed to reduce the price of the product and also pay profiteered amount and SCN for penalty Highlights GST Thu, 27 Jun 2019 07:40:42 +0530 https://www.taxtmi.com/highlights?id=47511