Practical Accounts And Taxation
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The rice industry, being one of the highly competitive markets in India, cannot increase the price of its product beyond a limit. There are various small and large players in the industry supplying rice for domestic as well as international markets. Hence, due to stiff competition and ample of supply it is not possible to set the price of final product which is not in alignment with the competitors and supply-demand forces. KRBL Ltd. had successfully established the fact to the authorities that none of the clauses of Anti-profiteering applied on them and the company had not violated any of the anti-profiteering rules under the CGST Act.
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