GST rate cut: With an aim to benefit customers, GST Council last month slashed rates on nearly 100 items.
With an aim to benefit customers, GST Council last month slashed rates on nearly 100 items. The revised GST rates came into effect 27 July this year. In the latest, the government has announced that anti-profiteering measures will be initiated against those traders who are are not passing on the complete benefit of price cut to the consumers. If the benefits of cut in rates are not passed on to the consumers, the affected consumer or consumers may file an application before the Standing Committee on Anti-profiteering, if the profiteering is of all India character, Central Board of Indirect Taxes and Customs (CBIC) said in recent advisory. If the profiteering is of local nature, the affected consumer or consumers can approach State Level Screening Committees.
Standing Committee on Anti-profiteering
Second floor, Bhai Vir Singh Sahitya Sadan, Bhai Vir Singh Marg, Gole Market, new Delhi – 110001. Telephone n0. – 011-23741537, Fax no. – 011-23741542
State Level Screening Committees
Contact details of State Level Screening Committees on Anti-profiteering are available at URL: goo.gl/2m8TAL
National Anti-profiteering Authority may order:
1)Cut in prices
3)Return of the amount not passed on with interest @18% to the recipient.
4)Registration cancellation of supplier.
Online complaint facility is available at www.naa.gov.in
A permission has been granted by the Ministry of Consumer Affairs, Food & Public Distribution for carrying out corrections in maximum retail price (MRP), under Rule 33(1) and Rule 6(3) of the Legal Metrology (Packaged Commodities) Rules, 2011, by either stamping or putting sticker or online printing, for declaring the slashed selling price on such pre-packaged commodities. Nevertheless, earlier label or sticker of MRP will continue to remain visible to eyes. CBIC said that the relaxation is applicable in the case of manufactured or packed or imported unsold stocks which are not sold and where the MRP would be slashed due to GST rate reduction with effect from 27 July. Up to 31 December, 2018, This relaxation is applicable, CBIC said.