Govt warns of anti-profiteering action after GST

Any benefit of lower rates from GST, on account of input tax refunds, must be passed on, said Adhia

Companies face the risk of government action if they raise prices in anticipation of the change in rates under the goods and services tax (GST) regime to be implemented from July 1, says Union revenue secretary Hasmukh Adhia.

Any benefit of lower rates from GST, on account of input tax refunds, must be passed on, he underlined.

For instance, he said, "all telecom companies should do their own calculation now and adjust tariffs (rates). The tax incidence on them will come down on account of the input tax credit for the servers they use for operations and other hardware and software. Currently,