The Central Government has notified the Anti-profiteering Rules, 2017 under the GST law. The rules were earlier approved by the GST Council in its 17th meeting held at New Delhi.
As per the provisions of the GST law, it is mandatory to pass on the benefit due to a reduction in the rate of tax or from the input tax credit to the consumer by way of commensurate reduction in prices. It further provides for the establishment of authority against anti-profiteering rules in order to ensure its compliance. While the end consumer may have some reason to cheer, the industry is still doubtful of its implementation.
Read the full text of the Rules below.
