Profiteering by cinema on GST rate cut, not passing benefit to customers. Directed to reduce prices. Violated law, but penalty can't be retrospective.
Case-Laws
GST
Respondent resorted to profiteering by not reducing selling price commensurately despite GST rate reduction from 28% to 18% on cinema tickets above Rs. 100, from 01.01.2019 to 05.02.2019, profiteering Rs. 13,99,061 including GST. Respondent directed to reduce prices keeping rate reduction in view, having revised ticket price
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