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GST Review December-2022

GST Updates

Deepali Mehta
Notifications Notification No 23/2022 dated 23.11.2022: Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022- 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. Notification No 24/2022 dated 23.11.2022: Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022. The Rules relating to Anti Profiteering has changed in continuation the notification issued for change of Authority as mentioned above. The constitution of Anti profiteering Authority has been done away with and related rules are omitted. [122,124,125,134 & 137]. Also the definition of Authority in the explanation has been changed: a) “Authority” means the Authority notified und.......