https://www.taxtmi.com/article/detailed?id=8867 The NAA found that by increasing the base price after a GST rate reduction the supplier engaged in profiteering contrary to section 171. Using rule 133(1), the profiteered amount was quantified and the authority directed price reduction, deposit of the profiteered sum with interest, refund to the identifiable complainant with interest, and transfer of the remaining unidentifiable amounts to consumer welfare funds. Incorrect invoicing was held to attract penal consequences under the CGST Act. en-us Thu, 26 Dec 2019 06:45:38 +0530 Thu, 26 Dec 2019 06:45:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8867 The NAA found that by increasing the base price after a GST rate reduction the supplier engaged in profiteering contrary to section 171. Using rule 133(1), the profiteered amount was quantified and the authority directed price reduction, deposit of the profiteered sum with interest, refund to the identifiable complainant with interest, and transfer of the remaining unidentifiable amounts to consumer welfare funds. Incorrect invoicing was held to attract penal consequences under the CGST Act. Articles Goods and Services Tax - GST Thu, 26 Dec 2019 06:45:38 +0530 https://www.taxtmi.com/article/detailed?id=8867