Vijetha Supermarkets guilty of profiteering: NAA

Shri M. Srinivas Vs Vijetha Supermarkets Pvt. Ltd. (National Anti-Profiteering Authority) The Applicant had alleged that the Respondent had not reduced the selling price of the “Frozen Green Peas”, when the GST rate was reduced from 5 % to Nil w.e.f. 01.01.2019 with denial of Input Tax Credit, vide Notification No. 25/2018-Central Tax (Rate) dated 31.12.2018. Held by AAR Respondent has increased the base prices of the goods in question when the rate of GST was reduced from 5% to Nil. On account of the reduction in the GST rate w.e.f. 01.01.2019, the input tax credit reversed on the...