https://www.taxtmi.com/article/detailed?id=8945 Suppliers who did not pass on the GST rate reduction from 12% to Nil on sanitary napkins, or who increased base prices beyond the permissible effect of denied ITC, were found to have engaged in profiteering under Section 171. The NAA, relying on DGAP investigations and Rule 126 methodology, quantified the shortfall and directed commensurate price reductions, deposit of the profiteered amount into Consumer Welfare Funds on a 50:50 basis under Rule 133, payment of interest until deposit, and noted potential penalty liability under Section 171(3A). en-us Thu, 06 Feb 2020 08:02:17 +0530 Thu, 06 Feb 2020 08:02:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8945 Suppliers who did not pass on the GST rate reduction from 12% to Nil on sanitary napkins, or who increased base prices beyond the permissible effect of denied ITC, were found to have engaged in profiteering under Section 171. The NAA, relying on DGAP investigations and Rule 126 methodology, quantified the shortfall and directed commensurate price reductions, deposit of the profiteered amount into Consumer Welfare Funds on a 50:50 basis under Rule 133, payment of interest until deposit, and noted potential penalty liability under Section 171(3A). Articles Goods and Services Tax - GST Thu, 06 Feb 2020 08:02:17 +0530 https://www.taxtmi.com/article/detailed?id=8945