Mathematical method for profiteering inapplicable when tax rate is reduced and ITC allowed in packaged foods case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Profiteering - packaged foods - The mathematical methodology applied in the case where the rate of tax has been reduced and ITC disallowed cannot be applied in the case where the rate of tax has been reduced and ITC allowed - The profiteered amount determined - Respondent directed to reduce his prices and/or deposit the amount as determined in the CWF.....