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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 171: Tax Reductions and Input Credits Must Lower Prices for Consumers Under Punjab GST Act 2017.</h1> Section 171 of the Punjab Goods and Services Tax Act, 2017 mandates that any reduction in the tax rate on goods or services, or benefits from input tax credits, must be passed on to consumers through corresponding price reductions. The Central Government, upon the Council's recommendation, may establish or empower an existing Authority to ensure compliance with this requirement. This Authority is tasked with verifying whether the benefits of reduced tax rates or input tax credits are reflected in the pricing of supplied goods or services, exercising powers and functions as prescribed by the law.
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