Earlier, the government has set up a five-member anti-profiteering authority that has the power to ask those; who are not passing on the tax benefit, to return the excessive profit earned to consumers along with an 18% interest, reduce prices and; if the consumer is not identifiable, deposit the amount in a Consumer Welfare Fund. The authority can even impose a penalty & cancel GST registration, in grave cases of abuse.
Anti-Profiteering Body Gets 169 Compliants
The National Anti-Profiteering Authority is an assurance to consumers of India. If any consumer feels that the benefit of tax rate cut is not being passed on; then he can complain to the authority.
The anti-profiteering authority set up by the Government to look into complaints of profiteering from the GST has so far; received 169 complaints declaring that suppliers of goods/ services have not passed on the GST benefits to customers.
Legal metrology department is also separately dealing with violations of its circular related to the revision of MRP (maximum retail price) provisions following implementation of GST; the government informed the Lok Sabha in reply to a requisition on Friday.