CBIC notifies the date for receipt of any new application regarding anti-profiteering

The CBIC issued Notification No. 19/2024 – Central Tax dated September 30, 2024, appoints the 1st day of April, 2025 as the date from which the Authority referred to in the said section 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 that registered person.

The Central Government, on GST Council recommendations, empowers the Principal Bench of the Appellate Tribunal to examine if input tax credits or tax rate reductions result in a corresponding price decrease in goods or services supplied by a registered person. This takes effect from October 1, 2024.

The Central Government, based on GST Council recommendations, has notified that from April 1, 2025, the Authority under Section 171(2) of the CGST Act, 2017 will no longer accept requests to examine whether input tax credits or tax rate reductions have led to a corresponding price reduction of goods or services.

Source : https://taxinformation.cbic.gov.in/