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 Au thority 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.
Removal of difficulties.-
Section 171 • THE ASSAM GOODS AND SERVICES TAX ACT, 2017
Section 171.(1). 1
assam-goods-and-services-tax-act-2017-sec-171.json
•
Section 171
{
"act_title": "THE ASSAM GOODS AND SERVICES TAX ACT, 2017",
"act_slug": "assam-goods-and-services-tax-act-2017",
"section_label": "Section",
"section": {
"number": "171",
"title": "Section 171.(1). 1",
"chapter": null,
"content": "Any reduction in rate of tax on any supply of goods or services \nor the benefit of input tax credit shall be passed on to the recipient \nby way of commensurate reduction in prices. \n(2) The Central Government may, on recommendations of the \nCouncil, by notification, constitute an Authority, or empower an \nexisting Au thority constituted under any law for the time being in \nforce, to examine whether input tax credits availed by any registered \nperson or the reduction in the tax rate have actually resulted in a \ncommensurate reduction in the price of the goods or services or both \nsupplied by him. \n(3) The Authority referred to in sub -section (2) shall exercise such \npowers and discharge such functions as may be prescribed. \nRemoval of difficulties.-",
"footnote": "",
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}