NAA : Holds McDonald's guilty of profiteering where base-price increased on eve of tax reduction

National Anti-Profiteering Authority (NAA) finds a case of profiteering u/s 171 of CGST Act, 2017 by Respondent, operating restaurants under brand name ‘McDonald’s’, observing that base price was increased despite reduction in tax rate from 18% to 5% w.e.f. November 15, 2017 vide Notification No. 26/2017 - Central Tax (Rate); Finds Respondent’s plea that prices were required to be revised due to sudden denial of ITC as there was significant change in costs, absolutely...