NAA : Finds no profiteering by ‘Panasonic LED’ supplier absent increase in tax rate

NAA dismisses application alleging violation of provisions of Section 171 of CGST Act, 2017 in respect of supply of ‘Panasonic LED’ for not passing on benefit of reduction in rate of tax post GST implementation; Notes that rate of tax in the post-GST era has been increased from 26.79% (VAT and Excise Duty) to 28%, therefore, allegation of profiteering is unsustainable: NAA...