Anti-profiteering: tax-rate reductions and input tax credit benefits must be passed to recipients via commensurate price reductions. Anti-profiteering requires that reductions in tax rates or the benefit of input tax credit be passed to recipients by way of a commensurate reduction in ... Summary
Anti-profiteering: tax-rate reductions and input tax credit benefits must be passed to recipients via commensurate price reductions.
Anti-profiteering requires that reductions in tax rates or the benefit of input tax credit be passed to recipients by way of a commensurate reduction in prices. The Central Government may, on recommendations of the Council, constitute or empower an Authority to examine whether registered persons have effected such commensurate price reductions, and that Authority shall exercise powers and discharge functions as may be prescribed.
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