Business Other News 26 Jul 2017 Anti-profiteering cl ...

Anti-profiteering clause for big cases

DECCAN CHRONICLE.
Published Jul 26, 2017, 12:53 am IST
Updated Jul 26, 2017, 12:53 am IST
GST Council has formed a selection committee under Cabinet secretary to identify and recommend eligible persons for appointment as the chairman.
Revenue Secretary Hasmukh Adhia.
 Revenue Secretary Hasmukh Adhia.

New Delhi: Revenue secretary Hasmukh Adhia on Tuesday said that proposed anti-profiteering authority under the new regime will take up for scrutiny only those cases that have mass impact and will not look at small cases of profiteering.  

GST Council has formed a selection committee under  Cabinet secretary to identify and recommend eligible persons for appointment as the chairman and members of the National Anti-profiteering Authority under GST.

 

The National Anti-profiteering Authority is tasked with ensuring the full benefits of a reduction in tax on supply of goods or services flow to the consumers.

“When constituted by the GST Council, the national anti-profiteering authority will be responsible for applying anti-profiteering measures in the event of a reduction in rate of GST on supply of goods or services or, if the benefit of input tax credit is not passed on to the recipients by way of commensurate reduction in prices,” the finance ministry said. 

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->