NAA: Upholds profiteering claim on 'footwear' sale for not passing rate-reduction benefit

National Anti-Profiteering Authority (NAA) upholds a case of profiteering in respect of footwear while holding that benefit of rate reduction vide Notification No. 18/2018-Central Tax (Rate) w.e.f. July 27, 2018 was not passed; Considering DGAP’s report, observes that Respondent increased the base price of the product when the tax rate was reduced from 18% to 5%, thus “by increasing the base price of the product the benefit of reduction in tax rate was not passed on to th...