Anti profiteering requires tax reductions and input tax credit benefits to be passed to recipients via price reductions. Any reduction in the rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices. The Central Government may, on recommendations of the Council, constitute an Authority or empower an existing Authority to examine whether input tax credits availed or tax rate reductions have resulted in commensurate price reductions, and that Authority shall exercise such powers and functions as may be prescribed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Anti profiteering requires tax reductions and input tax credit benefits to be passed to recipients via price reductions.
Any reduction in the rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices. The Central Government may, on recommendations of the Council, constitute an Authority or empower an existing Authority to examine whether input tax credits availed or tax rate reductions have resulted in commensurate price reductions, and that Authority shall exercise such powers and functions as may be prescribed.
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