NAA found ‘Subway Franchisee’ guilty of Profiteering

Assistant Commissioner of State Tax Vs N. Rai Delights LLP (NAA)

It is clear from the plain reading of Section 171(1) mentioned above that it deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second about the passing on the benefit of the ITC. On the issue of reduction in the tax rate, it is apparent from the DGAP’s Report that there has been a reduction in the rate of tax from 18% to 5% e.f. 15.11.2017, vide Please become a Premium member. If you are already a Premium member, login here to access the full content.