NAA : Upholds profiteering against ‘glass’ supplier where cum-tax price remained same despite rate reduction

NAA confirms case of profiteering against supply of ‘Glass for GT 03-RO Gas Stove’ observing that the base price of the product was increased to maintain cum-tax selling price despite reduction in GST rate from 28% to 18% vide Notification No. 41/2017-Central Tax(Rate) w.e.f. November 15,2017; Expounds that by increasing the price post GST, the benefit of reduction in tax rate was not passed on to the recipients as required by Sec. 171 of the CGST Act, 2017; Directs ...