Anti-profiteering provisions under GST: Analysing the emerging paradigm

Tax | Jan 21 2019

Section 171 of the Central Goods and Services Tax Act, 2017 (“CGST Act”) mandates that any reduction in rate of tax on any supply of goods or services or benefit of input tax credit is required to be passed on to the recipient by way of commensurate reduction in prices. In terms of the FAQs issued by the National Anti-Profiteering Authority (“NAA”), the willful action of not passing of the said benefits to the recipient amounts to “profiteering”.

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