Section 171 of GST – Anti-profiteering measure. Section 171 under CGST Act 2017 deals with Anti-profiteering measure. Section 171 of GST Act 2017 was introduced on 12th April 2017. Here you can find complete section 171 of CGST Act,2017 with chapter, subsection and Bare Act. We have provided complete list of section, Rules, Format and Various Article on GST. You can also refer other sections related section 171 of GST Act,2017. Here is complete detail of Anti-profiteering measure 171 of GST Act,2017 with latest amendment –
(1) 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.
(2) The Central Government may, on recommendations of the Council, 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.
(3) The Authority referred to in sub-section (2) shall exercise such powers and discharge such functions as may be prescribed.