https://www.taxtmi.com/article/detailed?id=9416 Alleged failure to pass on GST rate reduction to recipients under Section 171 CGST led to a DGAP probe which found that the respondent maintained or increased base prices for specified LED TVs and power banks despite the tax cut, producing an aggregate higher sales realization quantified as the profiteered amount. The Authority applied Rule-based methodology to determine the total profiteered sum, directed commensurate price reductions, ordered deposit of the amount into the Consumer Welfare Fund with interest because recipients were unidentifiable, and noted potential penalty liability under the statute. en-us Mon, 17 Aug 2020 07:17:14 +0530 Mon, 17 Aug 2020 07:17:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9416 Alleged failure to pass on GST rate reduction to recipients under Section 171 CGST led to a DGAP probe which found that the respondent maintained or increased base prices for specified LED TVs and power banks despite the tax cut, producing an aggregate higher sales realization quantified as the profiteered amount. The Authority applied Rule-based methodology to determine the total profiteered sum, directed commensurate price reductions, ordered deposit of the amount into the Consumer Welfare Fund with interest because recipients were unidentifiable, and noted potential penalty liability under the statute. Articles Goods and Services Tax - GST Mon, 17 Aug 2020 07:17:14 +0530 https://www.taxtmi.com/article/detailed?id=9416