LDR GST

  As the assessments and scrutiny for GST regime are in full swing across the nations, especially post pandemic disruptions, the Anti-Profiteering measures are gaining its momentum. Section 171 underpins this measure for "any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices." For the purposes of this section, the expression “profiteered” shall mean the amount determined on account of not passing the benefit of reduction in rate of tax on supply of goods or services or both or the benefit of input tax credit to the recipient by way of commensurate reduction in the price of the goods or services or both Lets look at some of the recent interventions in these lines. (A) In the case of M/S. ANUTONE ACOUSTICS LTD ( the Respondent ) ,  The National Anti-Profiteering Authority finds that, the supply of goods by the Respondent to the Applicant no. 1 wa...