Rule 133 of CGST Rules 2017: Order of the Authority (Anti-Profiteering)

Rule 133 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Order of the Authority (Anti-Profiteering)

Provisions under Rule 133 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Order of the Authority (Anti-Profiteering)”, as per CGST (2nd Amendment) Rules 2017 notified by CBEC on 28 June 2017, applicable w.e.f. 1 July 2017, are as under:

CGST Rule 133: Order of the Authority (Chapter-XV: Anti-Profiteering) 

(1) The Authority shall, within a period of three months from the date of the receipt of the report from the Director General of Safeguards determine whether a registered person has passed on the benefit of the reduction in the rate of tax on the supply of goods or services or the benefit of input tax credit to the recipient by way of commensurate reduction in prices.

(2) An opportunity of hearing shall be granted to the interested parties by the Authority where any request is received in writing from such interested parties.

(3) Where the Authority determines that a registered person has not passed on the benefit of the reduction in the rate of tax on the supply of goods or services or the benefit of input tax credit to the recipient by way of commensurate reduction in prices, the Authority may order-

(a) reduction in prices;

(b) return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest at the rate of eighteen per cent. from the date of collection of the higher amount till the date of the return of such amount or recovery of the amount including interest not returned, as the case may be, in case the eligible person does not claim return of the amount or is not identifiable, and depositing the same in the Fund referred to in section 57;

(c) imposition of penalty as specified under the Act; and

(d) cancellation of registration under the Act.

Related Posts:

CGST (2nd Amendment) Rules, 2017: CGST Notification No. 10/2017

CGST (Amendment) Rules 2017: CGST Notification No. 7/2017

CGST Rules 2017: CGST Notification No. 3/2017 dt. 19 June 2017

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