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of <h1>Rule 127: Ensuring Tax Benefits Reach Consumers Through Price Cuts, Potential Penalties for Non-Compliance, and Quarterly Reporting.</h1> The Authority's functions under Rule 127 of the Central Goods and Services Tax Rules, 2017, include determining whether tax rate reductions or input tax credit benefits have been passed to recipients through price reductions. It identifies registered persons failing to pass these benefits and can order price reductions, refunds with 18% interest, penalties, and registration cancellations. Additionally, the Authority must submit a quarterly performance report to the Council by the tenth day after each quarter's end.
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