lt is mandatory to pass on the profit to the consumers
Court :
Competition Commission of India
Brief :
The Competition Commission of India in the case of Rahul Sharma v. Cinema Ventures (P.) Ltd. [Case No. 07 of 2024 dated July 10, 2024], held that passing on the profit to the consumer is mandatory and as per Rule 133 (1) of the Central Goods and Service Tax Rules, 2017 ("the CGST Rules") and directed the Cinema Ventures to deposit the profiteered amount of Rs. 54,44,642/- along with interest. The interest was calculated at 18% from the date the amount was collected in excess from customers until the amount was deposited.
Citation :
Case No. 07 of 2024 dated July 10, 2024
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Bimal Jain
Published in GST
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