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Under section 171, Central Goods and Services Tax Act, 2017 (2)

23 November 2022Notification 23/2022-CT [N10Y44]
Notification of the Central Government, 23/2022-Central Tax 30 September 2024Notification 19/2024-CT [N113MJ]
Notification of the Central Government, 19/2024-Central Tax

Text

Open at its own address /S10-BTT

Section 171, Central Goods and Services Tax Act, 2017 [S10-BTT]

As at 8 September 2026. In force from 1 July 2017 by Notification No. 9/2017-Central Tax, dated 28-6-2017 [N10-27X].

In Central Goods and Services Tax Act, 2017 [A10-25N]. This text from 16 August 2024, by The Finance (No. 2) Act, 2024. Other texts (2): from 1 July 2017 to 31 December 2019; from 1 January 2020 to 15 August 2024.

Cite: Section 171, Central Goods and Services Tax Act, 2017 [S10-BTT]. Machine: S10-BTT.

171. Antiprofiteering measure.- **.—

(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.

Provided that the Government may by notification, on the recommendations of the Council, specify the date from which the said Authority shall not accept any request for examination as to 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.

Explanation1.––For the purposes of this sub-section, “request for examination” shall mean the written application filed by an applicant requesting for examination as to 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.

Explanation 2.––For the purposes of this section, the expression “Authority” shall include the “Appellate Tribunal

(3) The Authority referred to in sub-section (2) shall exercise such powers and discharge such functions as may be prescribed.

(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 leviable if the profiteered amount is deposited within thirty days of the date of passing of the order by the Authority.

Explanation.-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

Definitions recorded in this document

Read the recorded scope with each definition. A matching word alone does not establish applicability.

goods: Section 2, Central Goods and Services Tax Act, 2017 [S1061R] (In this Act, unless the context otherwise requires): "goods" means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply

Made under this section, or naming it (3)

Notification No. 19/2024-Central Tax [N11-3MJ], 30 September 2024, in force. Recital: "In exercise of the powers conferred by proviso to sub-section (2) of section 171 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Goods and Services Tax Council"

Notification No. 23/2022-Central Tax [N10-Y44], 23 November 2022, in force. Recital: "In exercise of the powers conferred by sub-section (2) of section 171 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Goods and Services Tax Council"

Notification No. 65/2020-Central Tax [N10-QBV], 1 September 2020, in force. The text contains "section 171 of the said Act".

Cited by (5)

Section 109, Central Goods and Services Tax Act, 2017 [S10-9PA], 12 April 2017, Band A. "section 171".

Section 2, Central Goods and Services Tax Act, 2017 [S10-61R], 12 April 2017, Band A. "section 171".

Rule 128, Central Goods and Services Tax Rules, 2017 [S10-HZQ], 19 June 2017, Band A. "section 171".

Rule 133, Central Goods and Services Tax Rules, 2017 [S10-J48], 19 June 2017, Band A. "section 171".

Rule 21, Central Goods and Services Tax Rules, 2017 [S10-DHM], 19 June 2017, Band A. "section 171".

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