The Ministry of Finance, through Notification No. 18/2024 – Central Tax, dated September 30, 2024, has empowered the Principal Bench of the GST Appellate Tribunal (GSTAT) under the GST Act, 2017 to hear cases of anti-profiteering. This notification enables the Tribunal to investigate whether input tax credits availed by registered persons or tax rate reductions have led to corresponding price reductions in goods and services supplied. The powers are conferred under Section 171(2) of the GST Act, read with Section 109(1) and the second proviso to Section 109(5). The Appellate Tribunal’s role will focus on ensuring that any benefits from tax credits or rate reductions are passed on to consumers as intended. This notification, based on recommendations from the GST Council, will come into force on October 1, 2024, further strengthening the GST compliance framework.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
Notification No. 18/2024 – Central Tax | Dated: 30th September, 2024
S.O. 4268(E).—In exercise of the powers conferred by sub-section (2) of section 171 read with sub-section (1) and second proviso to sub-section (5) of section 109 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Goods and Services Tax Council, hereby empowers the Principal Bench of the Appellate Tribunal, constituted under sub-section (3) of section 109 of the said Act, 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 that registered person.
2. This notification shall come into force with effect from the 1st day of October, 2024.
[F. No. CBIC-20016/25/2024-GST]
RAGHAVENDRA PAL SINGH, Director
