Profiteering - allegation is that the benefit of reduction on ...

Case Laws GST

July 1, 2022

Profiteering - allegation is that the benefit of reduction on the ITC not passed on by way of commensurate reduction in the price - The Respondent cannot deny the benefit of tax reduction to his customers and enrich himself at the expense of his buyers as Section 171 provides clear cut methodology and procedure to compute the benefit of tax reduction and the profiteered amount. - The Respondent was legally not required to collect the excess GST and therefore, he has not only violated the provisions of the CGST Act, 2017 but has also acted in contravention of the provisions of Section 171 (1) of the said Act as he has denied the benefit of tax reduction to the ordinary buyers by charging excess GST. - NAPA

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Profiteering - allegation is that the benefit of reduction on ...

Case Laws GST

July 1, 2022

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