With time government is trying to provide relief to consumers by slashing Goods and Services Tax (GST) rates. It is therefore inevitable to understand or have a brief about anti-profiteering rules under GST.

The substructure of anti-profiteering in the GST rules is to reassure that any reduction in GST rate and associated with input tax credit (ITC) benefit is passed on to the end consumer by way of reduction in prices.

The guidelines of anti-profiteering may come in effect from December first week.

Legal experts say a company’s net profits have to also be taken into account while calculating anti-profiteering.

Source: Economic Times