Suppliers liable to pay penalty for not passing GST rate cut benefits: NAA

In a first of its kind ruling, the  National Anti Profiteering Authority (NAA) Monday ruled that suppliers will be liable to pay penalty for not passing the benefits of  GST rate reduction on sale of goods. The NAA gave its ruling in a case against Jaipur-based  Sharma Trading Company , wherein it was alleged that the supplier had not reduced the price of 'Vaseline' in line with the…