Abstract:
The Central Goods and Services Tax Act, 2017 has an “anti-profiteering” clause aimed at ensuring
that businesses pass on tax rate cuts and cost savings resulting from the adoption of GST to the
consumers. In this context, Australia’s experience with price monitoring and control during the GST
transition period is looked at to draw lessons for India. It is eminently possible to institute a
comprehensive and effective price monitoring and control mechanism in India to enable benefits to
consumers under the GST regime. However, the anti-profiteering rules in their present form have
some lacunae and may not produce the desired results of containing profits and, thereby, price rise....
Description:
Economic and Political Weekly, Vol. 52, Issue No. 25-26, 24 Jun, 2017
