CGST Rules Rule 126 — Power to determine the methodology and procedure
CGST Rules, 2017 · Power to determine the methodology and procedure
Quick Answer
Rule 126 of the CGST Rules, 2017 governs Power to determine the methodology and procedure. It establishes the detailed procedural framework and compliance requirements necessary to implement the corresponding provisions of the CGST Act. Rule 126 CGST: Power to determine the methodology and procedure — eligibility, conditions, case laws and compliance impact under Indian tax law.
The Authority may determine the methodology and procedure for determination as to whether the reduction in the 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.
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CGST Rules Rule 126 was introduced as part of the CGST Rules, 2017.