મંગળવાર, 20 જૂન, 2017

GST: Anti-profiteering panel to levy penalty, to have sunset date of two years …



A five-member anti-profiteering authority will be set up to decide on levying penalty if businesses do not pass on the benefit of price reduction to consumers under the goods and services tax regime.

The authority, to be headed by a retired secretary-level officer, can take suo motu action, besides acting on complaints of profiteering.

The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state finance ministers as members, today approved the anti-profiteering rules.

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