Profiteering found under Section 171 CGST for failing to pass October 2019 GST cuts; recovery ordered with interest

Profiteering found under Section 171 CGST for failing to pass October 2019 GST cuts; recovery ordered with interestCase-LawsGSTThe AT held that the Respondent engaged in profiteering under Section 171, CGST Act, by failing to pass on GST rate reductions e

Profiteering found under Section 171 CGST for failing to pass October 2019 GST cuts; recovery ordered with interest
Case-Laws
GST
The AT held that the Respondent engaged in profiteering under Section 171, CGST Act, by failing to pass on GST rate reductions effective 01.10.2019; the statutory rebuttable presumption that reduced tax rates require commensurate price reductions was not successfully rebutted. The Respondent's claim of COVID-related additional costs was found unsubstantiated

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