Anti profiteering obligation requires pass-through of tax reductions or input tax credit into lower prices, enforceable by a designated authority. Reduction in tax rates or the benefit of input tax credit must be passed on to recipients by way of a commensurate reduction in prices. The Central ... Summary
Anti profiteering obligation requires pass-through of tax reductions or input tax credit into lower prices, enforceable by a designated authority.
Reduction in tax rates or the benefit of input tax credit must be passed on to recipients by way of a commensurate reduction in prices. The Central Government may, on Council recommendations, constitute or empower an Authority to examine whether such tax reductions or input tax credits have resulted in commensurate price reductions; that Authority shall exercise powers and discharge functions as prescribed.
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