https://www.taxtmi.com/article/detailed?id=9688 The NAA found that when the GST rate on Fly Ash Blocks was reduced, the supplier failed to pass on the commensurate benefit by reducing base prices; extraneous factors such as increased input costs, accumulated ITC, or interest on delayed payments were held irrelevant to the statutory obligation under Section 171(1) CGST Act. The DGAP quantified the profiteered amount and NAA applied Rule 133 to direct price reduction and deposit of the profiteered sum with interest or transfer to Consumer Welfare Funds where recipients were unidentifiable. en-us Fri, 19 Feb 2021 10:32:14 +0530 Fri, 19 Feb 2021 10:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9688 The NAA found that when the GST rate on Fly Ash Blocks was reduced, the supplier failed to pass on the commensurate benefit by reducing base prices; extraneous factors such as increased input costs, accumulated ITC, or interest on delayed payments were held irrelevant to the statutory obligation under Section 171(1) CGST Act. The DGAP quantified the profiteered amount and NAA applied Rule 133 to direct price reduction and deposit of the profiteered sum with interest or transfer to Consumer Welfare Funds where recipients were unidentifiable. Articles Goods and Services Tax - GST Fri, 19 Feb 2021 10:32:14 +0530 https://www.taxtmi.com/article/detailed?id=9688