Anti-profiteering obligation requires tax reductions or input tax credit benefits be passed to recipients via commensurate price reductions. A statutory anti-profiteering obligation requires that any reduction in tax rate or benefit of input tax credit be passed to the recipient by way of a ... Summary
Anti-profiteering obligation requires tax reductions or input tax credit benefits be passed to recipients via commensurate price reductions.
A statutory anti-profiteering obligation requires that any reduction in tax rate or benefit of input tax credit be passed to the recipient by way of a commensurate price reduction. The Central Government may, on Council recommendations, constitute or empower an Authority to examine whether such benefits have resulted in corresponding price reductions and that Authority shall exercise powers and discharge functions as prescribed.
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