Govt. appoints CCI to deal with Anti-Profiteering matters u/s 171(2) of the CGST Act

 ​    Notification No. 23/2022 – Central … Continue reading “Govt. appoints CCI to deal with Anti-Profiteering matters u/s 171(2) of the CGST Act”
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Notification No. 23/2022 – Central Tax & Notification No. 24/2022 – Central Tax, both dated 23-11-2022

The Government has empowered the Competition Commission of India established under Section 7(1) of the Competition Act, 2002 as an authority under Section 171(2) of the Central Goods and Services Tax Act, 2017 with effect from December 1, 2022.

Notably, Section 171(2) allows the Central Government to constitute or empower, through notification, any authority 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 supplied by him.

Further, the relevant rules under the Central Goods and Services Tax Rules, 2017 have also been modified accordingly. In this regard, Rules 122, 124, 125, 134, and 137 have been omitted. Also, Rule 127 and Rule 137 have been amended.

Click Here To Read The Full Notification

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