°[The Authority shall discharge the following functions, namely:-]
(i) to determine whether any reduction in rate of tax on any supply of goods or services or the benefit of the input tax credit has been passed on to the recipient by way of commensurate reduction in prices;
(ii) to identify the registered person who has not passed on the benefit of reduction in rate of tax on supply of goods or services or This rule was Omitted vide Notification No. 24/2022-State Tax, dated 03.01.2023, w.e.f. 01.12.2022; earlier read as:
124.Appointment, salary, allowances and other terms and conditions of service of the Chairman and Members of the Authority:- The appointment, salary, allowances and other terms and conditions of service of the Chairman and Members of the Authority shall be in accordance with the provisions of rule 124 of the Central Goods and Services Tax Rules, 2017.]
This rule was substituted by Notification No. MGST-1017/C.R.148/Taxation-1, (Notification No.25/2017, Sixth Amendment-2017), dated 30% August, 2017. (w.e.f. 1% July 2017). Prior to substitution this rule read as under:- “125. Secretary to the Authority:- The Additional Director General of Safeguards under the Board shall be the Secretary to the Authority”.
This rule was omitted vide Notification No. 24/2022-State Tax, dated 03.01.2023, w.e.f. 01.12.2022; earlier read as:
125. Secretary to the Authority.- The Secretary to the Authority shall be in accordance with the provisions of rule 125 of the Central Goods and Services Tax Rules, 2017.]
This rule was substituted by Notification No. MGST-1017/C.R.148/Taxation-1, (Notification No.25/2017, Sixth Amendment-2017), dated 30% August, 2017, (w.e.f. 1% July 2017). Prior to substitution this rule read as under:- “126. Power to determine the methodology and procedure:- The Authority may determine the methodology and procedure for determination as to whether the reduction in 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.” by Notification No. MGST-1017/C.R.148/ Taxation-1, (Notification No.25/2017, Sixth Amendment-2017), dated 30% August, 2017, (w.e.f. 1% July 2017).
For the word “Duties”, the word “Functions” was substituted by Notification No. 24/2022-State Tax, dated
03.01.2023, w.e.f. 01.12.2022.
For the words “It shall be the duty of the Authority,-” “The authority shall discharge the following functions, namely: - ” were substituted by Notification No. 24/2022-State Tax, dated 03.01.2023, w.e.f. 01.12.2022.
259 the benefit of input tax credit to the recipient by way of commensurate reduction in prices;
(iii) to 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 higher amount till the date of return of such amount or recovery of the amount 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 in the Act; and
(d) cancellation of registration under the Act 1[(iv) to furnish a performance report to the Council by the tenth 2[day] of the close of each quarter.]