Anti-profiteering: pass tax rate reductions and input tax credit benefits to recipients, with an Authority to examine compliance. Any reduction in the rate of tax on supplies of goods or services, or the benefit of input tax credit, must be passed on to recipients by commensurate reduction in prices. The Central Government may constitute or empower an Authority to examine whether registered persons have actually passed on such tax rate reductions or input tax credit benefits, and that Authority shall exercise such powers and discharge such functions as may be prescribed.
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: pass tax rate reductions and input tax credit benefits to recipients, with an Authority to examine compliance.
Any reduction in the rate of tax on supplies of goods or services, or the benefit of input tax credit, must be passed on to recipients by commensurate reduction in prices. The Central Government may constitute or empower an Authority to examine whether registered persons have actually passed on such tax rate reductions or input tax credit benefits, and that Authority shall exercise such powers and discharge such functions as may be prescribed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
