GST DAILY – 362 : Assessee should deposit profiteered amount as it had not passed benefit of reduction in GST: CCI
Assessee should deposit profiteered amount as it had not passed benefit of reduction in GST: CCI
Tag: Competition Commission of India CCI
Google settles Android TV case with Competition Commission
Technology major Google on Monday settled with the Competition Commission a nearly four year old case related to alleged unfair business practices with respect to Android Smart TV market and has agreed to modify its agreement with vendors. This is the first case that has been settled under the amended Competition Act, wherein the settlement and commitment provisions were introduced in 2023.
It is mandatory to pas on the profit to the consumers
The Competition Commission of India in the case of Rahul Sharma held that passing on the profit to the consumer is mandatory and as per Rule 133 (1) of 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.
GST anti-profiteering cases to be taken up by the appellate tribunal
The GST Council in its Saturday meeting might mandate the GST Appellate Tribunal (GSTAT) to adjudicate anti-profiteering cases and introduce “sunset date”, allowing filing of such complaints only up to April 1, 2025.
GST DAILY – 217
CCI instructed assessee to deposit the profiteered amount resulting from not passing benefit of GST rate reduction to the recipient
Notification No. 06/2024 dated 10.05.2024 – Competition Commissioner of India
The Competition Commission of India issued a Notification no. 06/2024 dated 10.05.2024 to make further amendment in the Competition Commission of India (General) Regulations, 2009.
Competition Commission of India notifies three distinct regulations on determination of turnover, settlement, commitment and penalty guidelines in relation to an enterprise
The Competition Commission of India (CCI) has notified three regulations viz. THE CCI (SETTLEMENT) REGULATIONS, 2024; THE CCI (COMMITMENT) REGULATIONS, 2024; THE CCI (DETERMINATION OF TURNOVER OR INCOME) REGULATIONS, 2024 and THE CCI (DETERMINATION OF MONETARY PENALTY) GUIDELINES, 2024 on 06.03.2024. These regulations and guidelines were issued…
GST laws: What the row over ‘profiteering’ is all about
The Supreme Court recently issued a notice to the Centre on the “anti-profiteering provisions” in the Central Goods and Services (CGST) Act, as well as the rules issued, on an appeal against a Delhi High Court ruling. Priyansh Verma explains…
GST authorities drop Rs 7 crore service tax demand against CCI
GST authorities have dropped a Rs 7.08 crore service tax demand against the Competition Commission of India (CCI) saying the statutory body does not render any taxable service. The CGST commissioner audit passed the order on an appeal filed by…
Budget 2023: Amendments related to CCI, IBC and Companies Act likely to be discussed in Budget session
During the Budget 2023-24 presentation, there will likely be discussions on three major amendments in the parliament. According to an exclusive report said by Zee Business Special Correspondent, Tarun Sharma, the amendments will be related to the Companies Act, Insolvency…