2018 (5) TMI 760

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....rinted on the 10 Kg. package of "India Gate Basmati Rice" (Mini Mogra) packed in the months of August, 2017 and October, 2017 showing the printed price of Rs. 540/- & Rs. 585/-respectively. 2. The above application was examined by the Standing Committee on Anti-Profiteering on 13.12.2017 and forwarded to the Director General Safeguards (DGSG) for detailed investigation on 18.12.2017. 3. The DGSG had issued notice to the above Respondent and after examining the record had reported that in this case the tax rate on the packed Basmati Rice carrying registered brand name of "India Gate Basmati Rice" had been increased from Nil to 5% after the implementation of the GST w.e.f. 01.07.2017, due to which input tax credit (ITC) had become available....

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....s no violation of the provisions of section 171 of above Act. He had also given details of the calculation of the ITC which was available to the above Respondent as has been shown in the table given below: Month Total Taxable Value (Rs.) Total output tax liability (Rs.) ITC available (Rs.) ITC ratio to Taxable Value (%) GST Paid (Rs.)   ITC Cash Sept., 2017 141581342 7142238 4246216 3 4795786 2346452 Oct., 2017 515995458 25828553 13869583 2.69 13869584 11958969 Nov., 2017 770088225 39052815 22514290 2.92 22514290 16538525 Total 1427665025 72023606 40630089 2.85 41179660 30843946 5. The above report was considered by the Authority in its sitting held on 20.03.2018 and it was decided to hear the Appl....

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....er factor had influenced the price of their product. They had also produced the copies of the invoices of paddy purchases in their support. They had also submitted the following table to support their case:- Particulars per 10 Kg. 01.06.17 01.07.17 17.07.17 01.09.17 26.09.17 04.10.17 02.04.18   Pre GST MRP   Post GST MRP   Before Tax Incidence on Branded Rice After Tax Incidence on Branded Rice India Gate Mini Mogra 10 Kgxl BOPP Bag 570 570 540 555 540 585 570 6. We have carefully heard the Respondent and also perused the material placed on the record and it is revealed that the "India Gate Basmati Rice" sold by the Respondent was not liable for tax before the implementation of the GST and after coming....