https://www.taxtmi.com/article/detailed?id=8085 Suppliers must pass on benefits from GST rate reductions and increased input tax credit by commensurate reductions in prices under Section 171(1) CGST. Non compliance may trigger orders to reduce prices, return excess collections with interest, penalties and cancellation of registration. Determining "commensurate reduction" is challenging because the term is undefined and no uniform methodology exists. Recent anti profiteering proceedings show fact specific outcomes; businesses should adopt precautions-hold old stocks, display revised prices, publicise rate changes and retain computations-to demonstrate compliance. en-us Thu, 26 Jul 2018 08:41:18 +0530 Thu, 26 Jul 2018 08:41:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8085 Suppliers must pass on benefits from GST rate reductions and increased input tax credit by commensurate reductions in prices under Section 171(1) CGST. Non compliance may trigger orders to reduce prices, return excess collections with interest, penalties and cancellation of registration. Determining "commensurate reduction" is challenging because the term is undefined and no uniform methodology exists. Recent anti profiteering proceedings show fact specific outcomes; businesses should adopt precautions-hold old stocks, display revised prices, publicise rate changes and retain computations-to demonstrate compliance. Articles Goods and Services Tax - GST Thu, 26 Jul 2018 08:41:18 +0530 https://www.taxtmi.com/article/detailed?id=8085