Amendment of secon 171

In secon 171 of the Nagaland Goods and Services Tax Act, after sub, secon (30e folloydng Amendment shall be rnseed, naine1y:— 1(3A) Where the Authoty referred to in SU1J$eCtiQII (2) after holding examination as required under the said sub.section comes to the concltion that any registered person has profiteered under sub section (1), such person shall be liable to pay pen1ty equivalent to ten per cent of thC aiount so profiteered: Provided that no penalty shall be kviable if ie profiteered am out is deposited within thirty days of the date oi pasing of the order by the Won'ty. Explanation.— For the purposes of this section, the expression profiteered" shall mean the amount determined on account of not passing the benefit of reiJucon in rate of tax on supply of goeds or services or both or the benefit of input tax credit to the recipient by way of commensurate reduction in the pace of the goods or seriees or bOth11!