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of <h1>Section 163 Empowers Authority to Ensure Price Reductions from Tax Benefits, Penalizes Non-Compliance by Registered Taxable Persons.</h1> Section 163 of the Model GST Law allows the Central Government to establish or designate an Authority to assess whether registered taxable persons have appropriately reduced prices following input tax credits or tax rate reductions. This Authority is empowered to ensure that such financial benefits are passed on to consumers through price reductions. It can also impose penalties if it determines that prices have not been adjusted accordingly.
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