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Centre, state to share GST anti-profit funds

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 Centre, state to share GST anti-profit funds
Centre and the ‘concerned state’ will equally share the amount deposited by erring businesses in the consumer welfare fund set up as part of the GST anti-profiteering rules, as per a Finance Ministry notification. following the rollout of GST in july last year, the government set up a national anti-profiteering authority to penalise business for failure to pass on tax benefits to consumers. In case the customer is not identifiable, the money has to be deposited in the consumer well are fund.
The Business Standard, New Delhi, 16th June 2018

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