Anti profiteering requires suppliers to pass tax reductions and input tax credit benefits to recipients through commensurate price reductions. Anti profiteering mandates that any tax rate reduction or benefit of input tax credit be passed to the recipient by way of a commensurate reduction in prices, and empowers the government to constitute or empower an Authority with prescribed powers to examine whether registered persons have passed on such benefits.
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Provisions expressly mentioned in the judgment/order text.
Anti profiteering requires suppliers to pass tax reductions and input tax credit benefits to recipients through commensurate price reductions.
Anti profiteering mandates that any tax rate reduction or benefit of input tax credit be passed to the recipient by way of a commensurate reduction in prices, and empowers the government to constitute or empower an Authority with prescribed powers to examine whether registered persons have passed on such benefits.
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