BS GST Round Table: Govt sets in motion anti-profiteering mechanism

It'll be mandatory for businesses to pass on the benefits arising out of lower tax incidence

Businesses not passing on the benefits of lower tax incidence under the goods and services tax (GST) may be in for trouble, with the government notifying the standing committee to receive complaints on profiteering. 

A four-member standing committee comprising two officers each from the Centre and states will examine the complaints and refer cases for investigation if they find merit.

“If you have got any complaints, you can send it to the standing committee or state-level screening committee,” said Revenue Secretary Hasmukh Adhia at the Business Standard GST Round Table. The detailed procedure for approaching the committees will be announced