Central Government, on the recommendations of the Goods and Services Tax Council, empowers the Principal Bench of the Appellate Tribunal to assess Impact of Input Tax Credits and Tax Rate Reductions on Pricing. (Notify Principal Bench of GST Appellate Tribunal to hear cases of anti-profiteering) - 18/2024 - Central GST (CGST)

Appellate Tribunal to Review Impact of Input Tax Credit and Tax Rate Changes on Consumer Pricing from Oct 2024.

The Central Government, based on the Goods and Services Tax Council's recommendations, has authorized the Principal Bench of the Appellate Tribunal to evaluate the effects of input tax credits and tax rate reductions on pricing. This empowerment allows the Tribunal to determine if registered persons have passed on the benefits of these tax changes to consumers through reduced prices. This notification, issued by the Ministry of Finance's Department of Revenue, takes effect from October 1, 2024, under the provisions of the Central Goods and Services Tax Act, 2017.