NAA imposes Penalty for not passing benefit of reduced GST rate to customers

Shri Pawan Sharma Vs M/S Sharma Trading Company (National Anti-Profiteering Authority) We have also carefully considered the issue of imposition of penalty on the Respondent as the allegation of profiteering has been duly established against him. It is clear from the facts of the present case that the Respondent was fully aware of the Notification dated 14.11.2017 whereby the rate of GST was reduced on the above product from 28% to 18%. He was also fully aware of the provisions of Section 171 of the above Act whereby he was bound to pass on the benefit of reduction in the rate of tax by commen...