Rule 126 of CGST Rules 2017: Power to Determine the Methodology and Procedure (Anti-Profiteering)

Rule 126 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Power to Determine the Methodology and Procedure (Anti-Profiteering)

Provisions under Rule 126 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Power to Determine the Methodology and Procedure (Anti-Profiteering)”, are as under:

CGST Rule 126: Power to Determine the Methodology and Procedure (Chapter-XV: Anti-Profiteering) 

The Authority may determine the methodology and procedure for determination as to whether the reduction in the rate of tax on the supply of goods or services or the benefit of input tax credit has been passed on by the registered person to the recipient by way of commensurate reduction in prices.

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Above information is based on Updated Compilation of “CGST Rules 2017” (as amended upto 10 Sept. 2018) shared by CBIC (i.e. as notified/ amended upto 10 Sept. 2018 by the CBIC). For detailed information/ subsequent updates, please refer relevant Notifications.

It may be noted that Rules 27 to 138 (pertaining to various Chapters) of the Central Goods and Services Tax (CGST) Rules, 2017 were initially notified by CBIC (CBEC) vide CGST (2nd Amendment) Rules, 2017 Notification No. 10/2017 Central Tax dt. 28 June 2017, applicable w.e.f. 1 July 2017 (or as may be specified in respective Rules).

Related Posts:

Central Goods and Services Tax (CGST) Rules, 2017 (Chapter-wise/ Rule-wise

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