https://www.taxtmi.com/article/detailed?id=9483 Profiteering was found where the supplier failed to pass on the benefit of a GST rate reduction by way of a commensurate reduction in prices. The DGAP compared channel-wise pre-reduction average base prices with invoice-wise post-reduction base prices, included excess tax collected on increased base prices, rejected discounts not meeting statutory conditions, and computed the aggregate net higher sales realization. The NAA determined contravention and directed price reduction and deposit of the profiteered amount with interest into government welfare funds where recipients were unidentifiable. en-us Thu, 24 Sep 2020 09:51:59 +0530 Thu, 24 Sep 2020 09:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9483 Profiteering was found where the supplier failed to pass on the benefit of a GST rate reduction by way of a commensurate reduction in prices. The DGAP compared channel-wise pre-reduction average base prices with invoice-wise post-reduction base prices, included excess tax collected on increased base prices, rejected discounts not meeting statutory conditions, and computed the aggregate net higher sales realization. The NAA determined contravention and directed price reduction and deposit of the profiteered amount with interest into government welfare funds where recipients were unidentifiable. Articles Goods and Services Tax - GST Thu, 24 Sep 2020 09:51:59 +0530 https://www.taxtmi.com/article/detailed?id=9483