Pass on GST cut to consumers or be prepared for action

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The state-level screening committee of antiprofiteering of GST has warned traders, manufacturers that if they do not pass on benefits due to decrease in GST on certain goods to consumers, action will be initiated. Principal commissioner and member, State Screening Committee, M Srinivas had even issued a public notice on January 25 in this regards. “GST Council on December 22, 2018, has recommended reduction in GST rates of several goods and services. As per Section 171 of the GST Act, any reduction in the rate of tax or benefit of the input tax credit shall be passed on to the recipient by way of commensurate reduction in prices,” Srinivas told TOI.

Consumers could file a complaint regarding suspected profiteering or refusal to pass on benefit of the input tax credit with the state-level screening committee or directly on the website naa.gov.in. The complainants should produce basic documents like invoice or proof of purchase, packing material containing declared price and bills or documents pertaining to purchase prior to reduction and after reduction. The application after scrutiny at the state-level would be forwarded to the national-level committee.

Vegetables uncooked or cooked by steaming or boiling in water, frozen, branded and put in a unit container, GST of 5% has been waived off. GST on power banks of Lithium-ion batteries was reduced from 28% to 18%, while GST on digital cameras, video camera recorders, video game consoles, retreated pneumatic tyres of rubber, monitors and TVs up to 32 inches, pulleys and gearboxes has been reduced from 28% to 18%.

Read more at: https://timesofindia.indiatimes.com/city/hyderabad/pass-on-gst-cut-to-consumers-or-be-prepared-for-action/articleshow/67937232.cms