GST Profiteering: “initiation of investigation”

Notices for “initiation of investigation” have been issued in nine cases under the anti- profiteering provisions of the Goods and Services Tax, the finance minister informed the Lok Sabha today.

The National Anti-Profiteering Authority and Standing Committee as well as State Level Screening Committees on anti-profiteering have been set up to examine the complaints of profiteering.

“221 anti-profiteering applications have been received by the Standing Committee and State Screening Committees as on Jan. 31, 2018. Notices of initiation of investigation have been issued in 9 cases involving 52 applications,” Finance Minister Arun Jaitley said in a written reply.

He further said that to protect the interest of consumers, the government has directed manufacturers, packers, importers of pre-packaged commodities to declare the revised retail sale price after the implementation of GST by way of stamping or putting sticker or printing.

The GST collection in January was estimated at Rs 88,929 crore.

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