Anti profiteering obligations require businesses to pass tax rate reductions or input tax credit benefits to recipients. Section 171 requires that any reduction in tax rate or the benefit of input tax credit be passed to recipients by commensurate price reduction; the ... Summary
Anti profiteering obligations require businesses to pass tax rate reductions or input tax credit benefits to recipients.
Section 171 requires that any reduction in tax rate or the benefit of input tax credit be passed to recipients by commensurate price reduction; the Central Government may constitute or empower an Authority to examine whether registered persons have complied, and that Authority shall exercise such prescribed powers and functions.
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