GST: Anti-profiteering authority can deregister firms

We hope we do not have to use the anti-profiteering clause, Jaitley said at the press conference

Companies not passing on benefits of reduced prices on account of the proposed goods and services tax (GST) to customers may lose their registration.
 

An anti-profiteering authority that will be set up will have the power to debar an errant assessee from conducting business if he does not pass on lower prices on account of the GST to customers. 
 

Finance Minister Arun Jaitley has said the anti-profiteering provisions are not to be used unless the government is forced to do so.
 

The GST is set to be rolled out on July 1. The authority will cease to exist two years