NAA: Directs further investigation in case of ITC, considers Respondent’s submissions for bringing down profiteering amount

NAA directs DGAP to further investigate and furnish a report under Rule 129(6) of the CGST Rules, 2017 considering quantum of stock transfer, sale returns, base price recalculation, effective discounted price; Observes that, allegation of profiteering of Rs. 32 crores (approx.) was made on account of net higher sales realization due to increase in the base price despite reduction in the GST rates on FMCG goods supplied by the Respondent from 28% to 18% w.e.f. November 15, 201...