GST News

Post GST, is a new inspector raj on its way?

There are apprehensions that in order to enforce the anti-profiteering clause, and even to ensure the filing of returns etc., a new inspector raj will come into existence. Are these fears legitimate?

Kunal Jhamb, Chandigarh

The government has clarified that the anti-profiteering clause will be used only as a last resort. This clause will not be invoked for activities like filing of returns but only in case of large companies that do not pass on the benefit of more input tax credit to customers in the form of lower prices. A detailed administrative mechanism has been prescribed for invoking the anti-profiteering clause, which includes the formation of a committee under the chairmanship of a Secretary level officer. The data will then be examined by officials from the Directorate of Safeguards which is under the administrative domain of the Central Board of Excise and Customs (CBEC). Therefore, fears of an inspector raj are misplaced.

To Read More Click on: http://indianexpress.com/article/explained/post-gst-is-a-new-inspector-raj-on-its-way-4768627/

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