Anti-profiteering measure.

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..... cil, by notification, constitute an Authority, or empower an existing Authority constituted under any law for the time being in force, to examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him. 2 [Provided that the Government may by notificat .....

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..... discharge such functions as may be prescribed. 1 [ (3A) Where the Authority referred to in sub-section (2) after holding examination as required under the said sub-section comes to the conclusion that any registered person has profiteered under sub-section (1), such person shall be liable to pay penalty equivalent to ten per cent. of the amount so profiteered: Provided that no penalty shall be le .....

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..... 148 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 27-09-2024 before it was read as, Explanation 4. Inserted vide Section 148 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 27-09-2024 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT .....

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