https://www.taxtmi.com/article/detailed?id=12287 The note summarizes the GST anti profiteering regime under Section 171 and associated rules, imposing a mandatory obligation on suppliers to pass on benefits from tax rate reductions or input tax credits to recipients by way of commensurate price reduction, and identifies available remedies for non compliance including price reduction, refunds with interest, consumer welfare deposits, penalties equivalent to profiteering and cancellation of registration. en-us Mon, 05 Feb 2024 08:50:11 +0530 Mon, 05 Feb 2024 08:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12287 The note summarizes the GST anti profiteering regime under Section 171 and associated rules, imposing a mandatory obligation on suppliers to pass on benefits from tax rate reductions or input tax credits to recipients by way of commensurate price reduction, and identifies available remedies for non compliance including price reduction, refunds with interest, consumer welfare deposits, penalties equivalent to profiteering and cancellation of registration. Articles Goods and Services Tax - GST Mon, 05 Feb 2024 08:50:11 +0530 https://www.taxtmi.com/article/detailed?id=12287