https://www.taxtmi.com/article/detailed?id=9487 Anti-profiteering obligations require suppliers to pass on benefits of reduced tax rates or input tax credit by commensurate monetary reductions in final prices; investigations compare invoice-wise base prices before and after rate reductions and include excess tax collected on inflated base prices when computing amounts not passed to recipients. Where base prices were increased contemporaneously with tax-rate cuts, the supplier was found to have realized higher sales and was directed to reduce prices, deposit the determined amount into consumer welfare funds with interest when recipients are unidentifiable, and face potential penalty. en-us Sat, 26 Sep 2020 11:38:30 +0530 Sat, 26 Sep 2020 11:38:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9487 Anti-profiteering obligations require suppliers to pass on benefits of reduced tax rates or input tax credit by commensurate monetary reductions in final prices; investigations compare invoice-wise base prices before and after rate reductions and include excess tax collected on inflated base prices when computing amounts not passed to recipients. Where base prices were increased contemporaneously with tax-rate cuts, the supplier was found to have realized higher sales and was directed to reduce prices, deposit the determined amount into consumer welfare funds with interest when recipients are unidentifiable, and face potential penalty. Articles Goods and Services Tax - GST Sat, 26 Sep 2020 11:38:30 +0530 https://www.taxtmi.com/article/detailed?id=9487