GST anti-profiteering body: Govt to examine contours today

GST anti-profiteering body: Govt to examine contours today

The Union Cabinet is likely to approve setting up of an anti-profiteering authority under the goods and services tax (GST) regime on Wednesday.

Prime Minister Narendra Modi headed Cabinet may also approve creation of the post of chairman and four technical members of the authority on Wednesday, officials said. To keep a tab on businesses that have not passed on to consumers the benefit of lower tax rates under the GST regime, the GST Council had approved setting up of a five member National Anti-Profiteering Authority.

The authority will have a sunset date of two years from the date on which the chairman assumes charge.

The chairman and the four members of the authority have to be less than 62 years.

The Business Standard, New Delhi, 04th October 2017

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