Anti profiteering requires passing tax rate reductions and input tax credit benefits to recipients via commensurate price reductions. Any reduction in tax rate or benefit of input tax credit must be passed on to the recipient by way of a commensurate reduction in prices. The Central ... Summary
Anti profiteering requires passing tax rate reductions and input tax credit benefits to recipients via commensurate price reductions.
Any reduction in tax rate or benefit of input tax credit must be passed on to the recipient by way of a commensurate reduction in prices. The Central Government may, on council recommendation, constitute or empower an Authority to examine whether registered persons have passed on such benefits, and that Authority shall exercise such prescribed powers and functions to verify compliance.
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