anti profiteering authority

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New Delhi, Jul 25 () The proposed anti-profiteering authority under the GST will bolster consumer confidence and ensure that the intended benefits of the new indirect tax regime reach the common man, the finance ministry said today.

Faced with increasing number of complaints under the anti-profiteering rules, the Finance Ministry will soon come out with a standard operating procedure (SOP) for handling grievances relating to over- charging after GST roll out.

The govt has said that businesses will have to ensure that the entire benefit of lower tax incidence, including input tax credit, is passed on to consumers or else face action from a five-member Anti-Profiteering Authority for GST. Similarly, any price increase has to be in line with tax incidence.

Taking suo-moto cognisance of the impact of GST on prices in telecom and aviation sector, the National Anti-Profiteering Authority (NAA) has asked the market leaders in the sectors to calculate the input tax credit (ITC) benefits that have accrued to them and whether it was enough to pass on to end-consumers, a source told PTI.

A five-member committee, headed by Cabinet Secretary P K Sinha, comprising Revenue Secretary Hasmukh Adhia, CBEC Chairman Vanaja Sarna and chief secretaries from two states, has been entrusted to finalise the chairman and members of the authority.

Companies challenge NAA's methodology, seek remedy in GST Appellate Tribunal. Complexity arises due to lack of clear methodology for individual calculations. FMCG argues increased costs during GST introduction. Furniture companies cite higher import costs. Auto companies mention minimal cost reduction. Court's order poses challenge for GST Council. Slab merger and rate reduction may lead to similar disputes.

New Delhi, Jul 25 () The proposed anti-profiteering authority under the new GST regime will take up for scrutiny only those cases that have mass impact, but it will not look at small cases of undue profits, Revenue Secretary Hasmukh Adhia said.

New Delhi, Jul 23 () The proposed anti-profiteering authority under the new GST regime will take up for scrutiny only those cases that have mass impact and those where undue profit of more than Rs 1 crore has been earned, a senior government official said.

New Delhi, Mar 27 () GST anti-profiteering authority has found Kerala-based distributor Win Win Appliances guilty of profiteering Rs 32,926 by not passing on GST rate cut benefit to customers.

Following the rollout of GST in July last year, the government set up a national anti-profiteering authority to penalise businesses for failure to pass on tax benefits to consumers.

The Council at its 35th meeting, the first under new Finance Minister Nirmala Sitharaman, is also likely to consider a proposal to set up one appellate tribunal for north-eastern states, and another one for all Union Territories.

New Delhi, Jul 30 () The GST anti-profiteering authority has sought inputs from telecom operator Bharti Airtel and budget airline Indigo on whether the goods and services tax (GST) or credit allowed on inputs in the new regime has created room for reduction in prices.

New Delhi, Jun 16 () The GST Council is likely to extend till November 30, 2020 the tenure of the National Anti-profiteering Authority (NAA), which deals with customer complaints regarding not receiving tax cut benefits, at its next meeting on June 21, an official said.

New Delhi, Dec 26 () FMCG major Hindustan Unilever (HUL) Wednesday said it is considering "legal options" after GST anti-profiteering authority found it guilty of not passing on rate cut benefits to consumers.