The Union Cabinet on Thursday approved setting up of a National Anti-profiteering Authority under the GST, as it seeks to ensure that consumers get the benefit of reduced prices under the new indirect tax regime. Union minister Ravi Shankar Prasad said currently there are only 50 items which attract the highest tax of 28% under the Goods and Services Tax (GST) regime and rates on many items have been cut to 5% as well.
The Union Cabinet on Thursday approved setting up of a National Anti-profiteering Authority under the GST, as it seeks to ensure that consumers get the benefit of reduced prices under the new indirect tax regime. Union minister Ravi Shankar Prasad said currently there are only 50 items which attract the highest tax of 28% under the Goods and Services Tax (GST) regime and rates on many items have been cut to 5% as well.
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