Non reduction in price despite tax reduction is profiteering: NAA

Kerala State Screening Committee on Anti-Profiteering Vs Ms TTK Prestige Ltd (National Anti-Profiteering Authority) It has been revealed that the Central Govt. vide Notification No. 41/2017- Central Tax (Rate) dated 14.11.2017 had reduced the rate of GST from 28% to 18% in respect of the above product with effect from 15.11.2017, the benefit of which was required to be passed on to the recipients by the Respondent as per the provisions of Section 171 of the CGST Act, 2017. The Respondent’s submissions that the price of the product was not increased at the time of introduction of GST when...