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GST Anti-Profiteering Clause Only for Major Cases, Says Hasmukh Adhia
July 31, 2017
Revenue Secretary Hasmukh Adhia said that the anti-profiteering panel set up under the Goods and Services Tax (GST) regime will investigate only those cases that have a mass impact and not small cases about illegal profits.
The GST anti-profiteering authority will be responsible for ensuring that businesses pass on the benefit of tax reduction or by way of input tax credits to their customers and to take appropriate action if that’s not the case.
Adhia said that the anti-profiteering authority will look into the cases of mass importance and not the small cases. However, no kind monetary threshold has been set for the cases that will qualify for probing yet.
