Anti-profiteering measures require tax or input credit benefits to be passed on as commensurate price reductions. Any reduction in tax rate or benefit of input tax credit must be passed to the recipient by commensurate reduction in prices; the Central Government may, ... Summary
Anti-profiteering measures require tax or input credit benefits to be passed on as commensurate price reductions.
Any reduction in tax rate or benefit of input tax credit must be passed to the recipient by 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 reductions and that Authority shall exercise prescribed powers and functions to verify compliance.
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