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Allegation of Profiteering against Gopal Teknocon, DGAP to Re-Investigate

The benefits of tax reduction and ITC under the provisions of Section 171 (1) of the CGST Act, 2017 are being granted by the Central and the State Governments out of the public exchequer and not from the accounts of the suppliers and hence they are to be passed on as per the mandate of the above provisions by commensurate reduction in the prices. Although the supplier and the recipient can negotiate the prices to be charged at the time of the supply of goods and services, however, the terms and conditions of negotiation would be dependent upon facts/factors prevailing at the relevant time and also prevailing circumstances.

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