Anti-profiteering: tax reductions and input tax credit benefits must be passed to recipients; authority to verify compliance. Anti-profiteering requires that any tax rate reduction or input tax credit benefit be passed to recipients by way of a commensurate reduction in prices. The Central Government, on Council recommendation, may constitute or empower an Authority to examine whether registered persons have passed on such benefits; the Authority shall exercise prescribed powers and functions to verify compliance.
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: tax reductions and input tax credit benefits must be passed to recipients; authority to verify compliance.
Anti-profiteering requires that any tax rate reduction or input tax credit benefit be passed to recipients by way of a commensurate reduction in prices. The Central Government, on Council recommendation, may constitute or empower an Authority to examine whether registered persons have passed on such benefits; the Authority shall exercise prescribed powers and functions to verify compliance.
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