https://www.taxtmi.com/caselaws?id=755576 CCI held that the respondent engaged in profiteering by not passing on GST rate reduction benefits on cinema tickets priced above Rs. 100, which decreased from 28% to 18% effective 01.01.2019. The respondent profiteered Rs. 13,99,061 during 01.01.2019 to 05.02.2019 by either increasing base prices while maintaining selling prices or not reducing selling prices commensurately. CCI directed price reduction to pass benefits to recipients, noting respondent corrected pricing from 06.02.2019. However, penalty under Section 171(3A) could not be imposed as the provision was only inserted effective 01.01.2020, making retrospective application impermissible for the violation period. en-us Wed, 10 Jul 2024 00:00:00 +0530 Sat, 13 Jul 2024 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755576 CCI held that the respondent engaged in profiteering by not passing on GST rate reduction benefits on cinema tickets priced above Rs. 100, which decreased from 28% to 18% effective 01.01.2019. The respondent profiteered Rs. 13,99,061 during 01.01.2019 to 05.02.2019 by either increasing base prices while maintaining selling prices or not reducing selling prices commensurately. CCI directed price reduction to pass benefits to recipients, noting respondent corrected pricing from 06.02.2019. However, penalty under Section 171(3A) could not be imposed as the provision was only inserted effective 01.01.2020, making retrospective application impermissible for the violation period. Case-Laws GST Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755576