NAA: Rate-reduction benefit computable product-wise not at entity-level, upholds profiteering

NAA upholds case of profiteering on supply of ‘Sanitary napkins’ while observing that Respondent denied the benefit of rate reduction to the buyers and has increased base-price in-spite of reduction in tax rate from 12% to NIL (without benefit of ITC) w.e.f. July 27, 2018 vide Notification No. 19/2018-Central Tax (Rate); Observes that, GST paid on inputs/input services post rate reduction was a cost to the supplier, hence, base price of products would increase to the exte...