https://www.taxtmi.com/acts?id=24055 Any reduction in tax rate or benefit of input tax credit must be passed on to the recipient by commensurate price reduction. The Central Government may constitute or empower an Authority to examine whether the benefit has been passed on, and the Authority's powers and functions are prescribed. If the Authority finds that a registered person has profiteered, a penalty equivalent to ten per cent of the amount profiteered is payable, subject to no penalty where the amount is deposited within thirty days of the order. en-us Mon, 27 Mar 2017 17:29:07 +0530 Fri, 26 Jun 2026 12:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24055 Any reduction in tax rate or benefit of input tax credit must be passed on to the recipient by commensurate price reduction. The Central Government may constitute or empower an Authority to examine whether the benefit has been passed on, and the Authority's powers and functions are prescribed. If the Authority finds that a registered person has profiteered, a penalty equivalent to ten per cent of the amount profiteered is payable, subject to no penalty where the amount is deposited within thirty days of the order. Act-Rules GST Mon, 27 Mar 2017 17:29:07 +0530 https://www.taxtmi.com/acts?id=24055