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Undue profit of over Rs 1 crore to come under GST authority’s lens

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The proposed anti-profiteering authority under the new goods and services tax (GST) regime will take up for scrutiny only those cases that have mass impact and those where undue profit of more than Rs1 crore has been earned, a senior government official said.
A five member National Anti-Profiteering Authority, headed by a secretary-level officer, will be set up soon to keep a tab on businesses that have not passed on to consumers the benefit of lower tax rates under the GST regime.
The Mint, New Delhi, 24th July 2017

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