Hyderabad-based company held guilty of GST profiteering on movie tickets

The National Anti-profiteering Authority (NAA) in one of its first rulings in the entertainment sector had found Prasad Media Corporation guilty of profiteering. It was found to have profiteered Rs. 30.13 lakh by not passing on the benefit of tax rate cut to 18 per cent on movie tickets. The Authority had stated that respondent had profiteered by way of either increasing the base prices of the service while maintaining the same selling prices or by way of not reducing the selling prices of the service commensurately despite a reduction in GST rate on services by way of addition to exhibitions of cinematograph films where price of admission ticket is above Rs 100 from 28 per cent to 18 per cent with effect from January 1, 2019 to June 30, 2019.

https://indianexpress.com/article/business/companies/hyderabad-based-company-held-guilty-of-gst-profiteering-on-movie-tickets-6499942/