Praxis Home Retail Ordered to Deposit ₹3.67 Cr Profit with Interest

Praxis Home Retail Ltd has received an order from the GST Appellate Tribunal (GSTAT), Principal Bench, Delhi, directing the company to deposit or pass on a determined profiteered amount of ₹3,67,88,027 (Rupees Three Crore Sixty-Seven Lakh Eighty-Eight Thousand and Twenty-Seven only), along with interest at 18%. This order stems from an investigation into the alleged failure to pass on GST rate reduction benefits on certain goods between November 2017 and September 2019. The company is seeking legal advice and evaluating options, including an appeal. The total liability includes ₹21,200 to be passed to an identifiable complainant and ₹3,67,66,827 to be deposited in Consumer Welfare Funds. No penalty was imposed as the relevant period predates the provision.