https://www.taxtmi.com/article/detailed?id=9470 The NAA found that respondents increased the base price of a specified antiseptic product when the GST rate was reduced and thus did not pass on the commensurate monetary benefit mandated by Section 171. DGAP calculated average pre-reduction base prices by customer channel, compared them with invoice-level post-reduction base prices (excluding supplies with credit notes and specified categories), and aggregated the excess sales realization and related tax to quantify profiteering. NAA directed commensurate price reduction and deposit of the determined amounts into the Consumer Welfare Fund with interest, and the order was subject to a High Court challenge with an interim deposit directed. en-us Thu, 17 Sep 2020 10:17:07 +0530 Thu, 17 Sep 2020 10:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9470 The NAA found that respondents increased the base price of a specified antiseptic product when the GST rate was reduced and thus did not pass on the commensurate monetary benefit mandated by Section 171. DGAP calculated average pre-reduction base prices by customer channel, compared them with invoice-level post-reduction base prices (excluding supplies with credit notes and specified categories), and aggregated the excess sales realization and related tax to quantify profiteering. NAA directed commensurate price reduction and deposit of the determined amounts into the Consumer Welfare Fund with interest, and the order was subject to a High Court challenge with an interim deposit directed. Articles Goods and Services Tax - GST Thu, 17 Sep 2020 10:17:07 +0530 https://www.taxtmi.com/article/detailed?id=9470