Government to soon finalise anti-profiteering guidelines: CBEC

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The government is at the advanced stage of finalizing anti-profiteering guidelines for judging parameters whereby benefits of reduced GST rates are passed on to the end consumer, a tax official said today.

A statement issued by the PHD Chamber of Commerce quoted Member (GST), CBEC, Mahender Singh as also having said that “glitches in e-way bills would be removed since functionaries in the GST regime are having diverse and intensive discourses with senior functionaries of all states and UTs, emphasizing that e-way bills is since a new concept introduced post GST may have problems relating to its implementation”.

According to the statement, Singh announced that 15 states have already agreed for smooth implementation of intra-state movement along with inter-state movement of goods via e-way bills from February 1 and hoped that the other states and union territories would be able to put in place intra-state e-way bills smooth facilitation by June 1, 2018.

“Anti-profiteering is a temporary measure and as the GST is stabilized in due course of time, the anti-profiteering authority would be wound up,” he said, according to the statement. 

The GST was rolled out from July 1 and the government had constituted the National Anti-Profiteering Authority in November.

Read more at: https://economictimes.indiatimes.com/news/economy/policy/government-to-soon-finalise-anti-profiteering-guidelines-cbec/articleshow/62639529.cms

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